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,

Trump has set a baseline tariff of 10% on all imports to the United States, as well as additional duties on certain products or countries.

Japan joined a list of 22 nations that were sent tariff letters - 14 of those are in Asia.

President Trump's gone maximalist again on tariffs, and just like the last time, it appears the only thing that could stop him is a market meltdown. Why it matters: Stocks seem very, very disinclined to stop the historic rally they've been on for the last three months.

In a wide-ranging interview with NBC News, Trump talked about tariffs, sending Patriot missiles to NATO for Ukraine and how he'll sell his recently passed "big, beautiful bill."

President Trump is escalating his global trade war, threatening new tariffs on several countries starting Aug. 1, unless deals are struck.

Trump has vowed to respond forcefully if countries seek to punish the U.S. by adding tariffs of their own.