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From CNN, I'm Charlie Drever with the five things you need to know for Friday, August 1st.

Nations around the world are waking up to the announcement of new U.S. tariffs on their

exports, and some are happier than others.

President Donald Trump said the new duties come into effect on August 7th, and for most

countries tariffs of 10% will stay in place.

But that's just for nations with which the U.S. has a trade surplus.

Others are facing much higher tariffs.

For a wrap-up of how countries have responded to the announcement,

here's CNN's Kevin Liptack.

Charlie, it's clear we're entering an entirely new era of trade that's been reimagined by Donald Trump.

Some of these countries that have been hardest hit are speaking out.

In Canada, which was hit by a 35% tariff, the Prime Minister Mark Carney said that Canadians would be their own best customers.

Switzerland hit by a 39% tariff. The foreign minister said it was with great regret that they took note of Trump's decision.

In South Africa, hit with a 30% tariffiff the president saying that he was submitting a new trade deal to the U.S.

And so we should note all three of those countries are U.S. allies just underscoring that Trump is targeting friend and foe alike as he works to reshape global trade to his liking.

The U.S. economy added just 73,000 jobs in July.

That's according to data released today from the Labor Department,

...