Global stocks fell on Friday after U.S. President Donald Trump ramped up his tariff war against Canada, leaving Europe squarely in the firing line, sparking a modest investor push into safe havens like gold,

Canada is one of the United States' top trading partners, with more than $410 billion of goods crossing into the country last year.

U.S. President Donald Trump on Thursday announced a 35% tariff on Canadian imports, starting Aug. 1. Trump cited fentanyl as a reason for the tariffs, while also complaining about Ottawa's retaliatory duties.

Here are the top stories to read ahead of Friday's trading:

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.

President Trump said he will raise taxes on imported goods from Canada to 35 percent starting August 1, deepening a rift between the two trade allies.

President Donald Trump has announced in a letter on social media that Canadian goods will be subject to a 35% tariff rate starting Aug. 1