U.S. President Donald Trump said on Friday that an 80% tariff on Chinese goods "seems right," making his first suggestion of a specific alternative to the 145% levies he has imposed on Chinese imports ahead of weekend talks to contain a trade war between the world's two biggest economies.

With time running out on his 90-day tariff pause, Donald Trump and his team have yet to announce a new trade agreement.

The meeting is the strongest sign yet that the world's two biggest economies are ready to de-escalate their trade war.

Canada's unemployment rate rose to 6.9% in April, the highest since November, as U.S. tariffs started to hit Canada's export-dependent economy in earnest, data showed on Friday. The high unemployment rate in Canada,

Canada’s tepid pace of job creation last month sent the unemployment rate soaring back to a level last seen in November, the highest since January 2017 outside of the pandemic.

Canada's unemployment rate ticked up to 6.9 per cent in April, from 6.7 per cent the month before, Statistics Canada said on Friday.