The Dow, S&P 500 and Nasdaq retreat from record highs as President Trump rolled out a fresh tariff against Canada, following Brazil hit. Meanwhile, the Federal Reserve and Chairman Powell are under fire for spending on renovations.

Investors have had their fair share of things to digest this week. Trump the tariff man has returned in force. The president slapped a 50% tariff on copper imports, powering shares of metals play Freeport-McMoRan (FCX) up almost 5% on the week.

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."

Trump insiders maintain that it would make little sense — politically or from a policy standpoint — for the president to offer any further extensions on trade.

U.S. President Donald Trump’s tariff letters show that tariffs — to protect domestic industries and to raise revenue for a deeply indebted government — are the way forward. The U.S. is moving toward more managed trade via quotas and other measures.

President Donald Trump has launched a fresh assault on global trading partners with Canada likely to be among the worst hit. In a letter sent to its northern neighbor late on Thursday, Trump said the U.