US stock futures fell on Friday after President Trump threatened Canada with a 35% tariff on its imports to the US and floated higher blanket levies. Trump on Truth Social posted a letter to Canadian Prime Minister Mark Carney,

President Donald Trump has sent letters this week outlining higher tariffs countries will face if they don’t make trade deals with the U.S. by Aug. 1.

“Record highs and a low VIX signals markets have already priced in perfection — a soft landing and a clean unwind of tariff risks — which feels wildly out of sync with the real-world picture,” said Hebe Chen, an analyst at Vantage Markets in Sydney. “A pullback is very much on the table, with the S&P 500 glued to overbought territory,” she said.

The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.

Explore our tariff tracker to see the latest rates for Brazil and seven other nations impacted by Trump's new trade policies.

Myanmar is calling on the United States to lift its sanctions and ease recently imposed tariffs, citing the country's continued classification as a Least Developed Country and the severe economic hardships it faces.

Latest news and live updates as Marco Rubio meets with Russian foreign minister amid tensions over Ukraine and Trump releases tariff letters to trading partners.