Tariffs putting the squeeze on businesses and consumers while bringing in billions of dollars for the United States government.

U.S. President Donald Trump fired the Labor Department's Bureau of Labor Statistics Commissioner Erika McEntarfer on Friday after data showed weaker-than-expected employment growth in July and massive downward revisions to the prior two months' job counts.

The economy grew at a healthy rate despite the back-and-forth with Trump's tariffs, but the true test will come after the levies are imposed.

Trump's executive order late Thursday laid out rates to be applied against nearly 70 countries, ranging from 10% to 41% in what a Trump administration official hailed as the beginning of a "new system of trade." The new duties are now set to go into effect on Aug. 7.

After Canada failed to strike a trade deal with Washington, the president raised tariffs on some Canadian exports this week.