Canada's main stock index slipped on Friday as investors assessed U.S. President Donald Trump's new tariff regime that included levies on Canada and dozens of other countries. The S&P/TSX composite index was down 1.

President Donald Trump said the US will put a 35% tariff on some imports from Canada, escalating the tensions between two countries that have impaired one of the world’s largest trading relationships.

President Trump announced Thursday that he would grant a 90-day extension to Mexico to allow for further trade negotiations, but the white house did not extend the same courtesy to Canada.