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Hello from CNN. I'm Joe Beck, with the five things you need to know for Friday, July 11th.

President Donald Trump is threatening more tariffs again.

Late last night, he escalated the on-again-off-again trade war with Canada by saying

they could face a 35% duty on goods coming across the border into the U.S.

It wasn't immediately clear, though, if that would apply to all Canadian goods, or only to

the limited number that are already subject to tariffs.

Canada's Prime Minister Mark Carney posted on X that his government is still working on an agreement,

and has, quote, steadfastly defended the country's workers and businesses. In an NBC news interview, Trump suggested blanket tariffs on other trading partners will jump as well.

Trump has sent letters to more than 20 world leaders over the past week,

telling them what rates they'll be facing come August 1st, unless they make a trade deal with the U.S.

President Trump is traveling to central Texas today

to survey the aftermath of the catastrophic flooding that's killed more than 120 people.

Whole neighborhoods were overwhelmed in just minutes, sparking mounting scrutiny of the government's

warning systems and rescue operations,

and putting the Trump administration on the sudden defensive.

...