Global stock markets mostly retreated on Friday (July 11, 2025) following aggressive new trade threats from U.S. President Donald Trump. In a move that unsettled investors worldwide, Trump proposed a blanket hike in tariffs and threatened to impose a 35% duty on imports from Canada, escalating fears of another wave of protectionist economic policies.

This latest salvo in the ongoing trade tensions between the U.S. and its allies triggered sell-offs across major indices in Asia, Europe, and North America. Analysts warned that such blanket tariffs could not only disrupt existing supply chains but also reignite inflationary pressures, affecting consumers and businesses alike.

Markets in Toronto and New York took the hardest hit, with investors expressing concern over the stability of North American trade relations. Trump’s comments come ahead of key trade talks and are expected to be a major flashpoint in upcoming international economic summits.

As the threat of a renewed trade war looms large, investors are turning to safer assets, indicating heightened global uncertainty.