President Donald Trump has managed to make his erratic trade policies even more baffling to countries desperate to negotiate an escape from his wrath. Doubling down on his

Canada became the latest country to be slapped with increased tariffs by the Trump administration on Thursday. Starting August 1,

Canada has made concessions to win goodwill with the White House. Trump, in return, has threatened steeper tariffs.

In a letter to Mexico’s president, Claudia Sheinbaum, Mr. Trump said that Mexico was not doing enough to curb the flow of fentanyl into the United States and cited that as the reason for the tariffs. Mr. Trump added that Mexican companies were welcome to manufacture their products in the United States to avoid the tariffs.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

The S&P 500 followed a record-breaking Thursday by dipping 0.33% Friday after President Donald Trump said he would impose a 35% tariff on Canada on August 1. The stock market dipped on Friday after President Donald Trump issued his latest tariff threat against Canada.

The president revived his discredited claims about fentanyl entering the U.S. from Canada to justify his latest proposed rate of 35 percent.

In Kerr County, Trump was greeted by Gov. Greg Abbott, who on Friday announced the federal government updated Trump's disaster declaration to include more counties. Abbott said the move "will provide critical assistance to Texans and communities impacted by the devastating flooding."

The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.