Wall Street futures traded with losses on Friday as the trade war heated up. United States President Donald Trump announced a 35% tariff on Canadian goods from August 1 and indicated the European Union could be hit with a 15% to 20% tariff.

The Dow Jones lost 0.50% or 226 points at 4:21 am ET, the Nasdaq 100 dropped 0.59% and the S&P 500 declined by 0.58%.

The euro traded 0.13% lower against the dollar at 4:32 am ET, selling for 1.16852.