Major stock indexes were slightly lower on Friday as U.S. President Donald Trump's announcement of tariffs on imports from Canada fanned worries about trade tensions, with the Canadian dollar down against the greenback.

Trump's tariffs have companies scrambling as they navigate cost increases. Here are the companies that have talked about hiking prices.

Trump and his aides have repeatedly shifted their stance on tariffs since the president’s “Liberation Day” announcement.

If implemented, Trump's new 35 percent duties will be "separate from all Sectoral Tariffs," such as the 50 percent tariff on steel and aluminum imports. Trump also promised that, if Canada raises its own tariffs in response, then "whatever number [Canada chooses] to raise them by, will be added onto the 35% that [the U.S. charges]."

Amidst fluctuating markets and governmental reforms, President Trump's tariffs are influencing both consumer goods and federal operations. Used car prices have surged due to tariffs, the Treasury Department anticipates significant revenue from tariff collections,

The outlook for the economy got cloudier Tuesday after Trump sent mixed signals about an Aug. 1 deadline for his long-delayed "Liberation Day" tariffs.

“I actually believe that President Trump is driving toward a long-term change in industrial policy in America, where he sees permanent unilateral trade tariff barriers as beneficial to America in the long term,” Pence added later in the interview, noting that “as a free market conservative, that’s something I just don’t embrace.”

Trump's tariffs may pose less threat to Asian markets than initially feared, wrote Goldman Sachs analysts. Tariffs may hurt markets, but if there's clear information about them, investors would feel less negative. North Asian markets face higher exposure, while Southeast Asia markets are less affected.

The major averages are coming off a choppy session as investors follow the latest trade headlines out of the White House.