Canadian Prime Minister Mark Carney said his government was disappointed by Trump’s move to raise the U.S. tariff on goods from America’s northern neighbor to 35% from 25%, effective Friday. Goods transshipped from unspecified other countries face a 40% import duty.

U.S. President Donald Trump's latest wave of tariffs on exports from dozens of trading partners sent global stock markets tumbling on Friday and countries and companies scrambling to seek ways to strike better deals.

Trump’s suspension of “reciprocal” tariffs will end Friday, which means the world could face higher tariffs once again.