Aug 1 (Reuters) - Futures tied to Canada's main stock index slipped on Friday, as investors woke up to U.S. President Donald Trump's new tariff regime that included fresh levies on Canada and dozens of other countries.
Futures on the S&P/TSX index were down 1% at 1,605.40 points by 06:52 a.m. ET (1052 GMT). The benchmark index gave back some of its monthly gains in the previous session.
Trump late on Thursday signed an executive order increasing tariffs on all Canadian goods not covered by the U.S.-Mexico-Canada trade agreement to 35% from 25%.
He also imposed steep tariffs on imports from dozens of other trading partners including Brazil, India, Taiwan and Switzerland, pressing ahead with his plans to reorder the global economy.
Adding to investors' concerns, Trump sent letters to the leaders of 17 major pharmaceutical companies outlining how they should slash U.S. prescription drug prices to match those paid overseas.
In commodities, gold prices held steady on Friday, while oil prices were little changed and copper prices stabilised.
In corporate news, Canadian auto parts supplier Magna International (MG.TO), raised its annual sales forecast and topped second-quarter estimates, benefiting from its cost-cutting measures.
Focus will be on the U.S. jobs data, due later in the day.
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Reporting by Sanchayaita Roy in Bengaluru; Editing by Shreya Biswas
