US STOCKS-Wall St set to open lower amid Trump's fresh tariff salvo on Canada

• Futures down: Dow 0.59%, S&P 500 0.51%, Nasdaq 0.42%
• Crypto stocks surge as Bitcoin scales record peak
• Levi Strauss gains after hiking forecasts

July 11 (Reuters) - Wall Street braced for a lower open on Friday as President Donald Trump cranked up his tariff assault on Canada, deepening uncertainty around Washington's trade agenda.

Trump on Thursday announced a 35% tariff on Canadian imports, set to kick in next month, up from the 25% imposed in March, and warned that the levy could climb higher if Canada retaliates.

The president also floated the possibility of a sweeping 15% or 20% tariff on other countries, up from the current 10% baseline.

Meanwhile, he said that the European Union would receive a formal letter later in the day. The bloc is still scrambling to secure a deal with Washington.

At 08:15 a.m. ET, Dow E-minis YMcv1 were down 263 points, or 0.59%, S&P 500 E-minis EScv1 were down 32 points, or 0.51% and Nasdaq 100 E-minis NQcv1 were down 96 points, or 0.42%.

Futures tracking the small-cap Russell 2000 index RTYcv1 dropped 0.6%.

Markets have remained largely subdued this week, with the only highlight being Nvidia NVDA.O becoming the first company to breach the $4 trillion valuation milestone.

Shares of the chip giant eased 0.5% in premarket trading.

The S&P 500 .SPX and the tech-heavy Nasdaq .IXIC are on track to end the week largely flat, while the Dow looks set to snap its three-week winning streak - the longest since January.

This week, President Trump widened his tariff offensive, targeting a number of countries, including allies Japan and South Korea, and introducing a new 50% tariff on copper.

Analysts are noting a growing sense of resilience among investors, who seem to be getting used to Trump's tariff threats.

Market reaction to the new tariff announcements was far less choppier than the turbulence following early April's "Liberation Day" announcements, when all the major indexes posted their steepest weekly losses in nearly six years.

"It feels that the market has been rather sanguine...(about) the potential impact and hasn't really been pricing in the risks that are now coming to the surface as we get more clarity over what the trade tariffs will be," said Fiona Cincotta, senior market analyst at City Index.

Investors are also gearing up for the upcoming earnings season, hoping for a clearer read on how trade turmoil has rippled through corporate America.

Wall Street's big banks are scheduled to report quarterly results next week, with J.P. Morgan JPM.N kicking off the earnings season on Tuesday.

The coming week is also packed with economic data releases, including those on consumer and producer price inflation and retail sales.

Meanwhile, last week's robust jobs report has nearly dashed all hopes for a July rate cut. Investors are now betting on a September move -- odds for which stand at 62.2%, according to CME FedWatch.

Cryptocurrency stocks ticked up as bitcoin BTC= rose to a record high. Coinbase Global COIN.O rose 1.5%, Bitfarms BITF.O climbed 8.4%, while Strategy MSTR.O and Riot Platforms RIOT.O advanced over 3% each.

Denim maker Levi Strauss & Co LEVI.N jumped 6.7% after the company raised its annual revenue and profit forecasts and beat quarterly estimates on Thursday.

Trump announces fresh tariffs