May 23 (Reuters) - Futures for Canada's main stock index

dipped on Friday after U.S. President Donald Trump recommended

steep 50% tariffs on the European Union.

June futures on the S&P/TSX index were down 1.04%

at 8:03 a.m. ET (1203 GMT).

Trump is recommending tariffs on goods from the EU starting

on June 1, saying the EU has been hard to deal with on trade.

On Thursday, the Republican-controlled U.S. House of

Representatives passed a sweeping tax and spending bill, raising

concerns about worsening fiscal outlook in the world's biggest

economy. The bill now heads to the Senate for approval.

Also on Thursday, Bank of Canada Governor Tiff Macklem said

he expected second-quarter growth to be "quite a bit weaker"

than the first quarter, and that it could be worse in subsequent

quarters if the uncertainty around U.S. tariffs continued.

The central bank last month forecast annualized

first-quarter GDP would be 1.8% but did not give any other

projections, citing uncertainty over U.S. tariff policy.

Statistics Canada will release the first-quarter GDP data on

May 30, a week before the central bank's next interest rate

decision.

In commodities, oil prices dropped for a fourth consecutive

session and were set for their first weekly decline in three

weeks.

Gold prices rose and were poised for their biggest weekly

gain in more than a month, while copper prices were expected to

see slim weekly gains.

Canada's main stock index edged higher on Thursday, as

technology shares clawed back some of the previous day's

declines and investors cheered TD Bank's quarterly results.

During the week, investors assessed hotter-than-expected

domestic core inflation data.

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