William Beach, the former commissioner of the Bureau of Labor Statistics who was nominated by President Donald Trump and led the agency during his first term, has condemned the firing of his successor, calling it "totally groundless" and warning that it "sets a dangerous precedent."

American businesses and consumers are already feeling the squeeze from President Donald Trump’s trade war, more tariffs are expected later this week.

Trump on Thursday signed an executive order that set new tariffs on a wide swath of U.S. trading partners to go into effect on Aug. 7. The order drew worries from Wall Street Friday as stocks slumped and Treasury yields fell sharply.

Trump has justified tariffs on goods from Canada, the top U.S. export market, by accusing it of failing to stop the cross-border flow of fentanyl, even though U.S. government data shows Canada accounts for only 1% of the fentanyl that enters the United States.