Canada folded to President Donald Trump after promising that the nation would pay a historically large 'financial prize' for the electricity rate that it had imposed on the United States.
Hours later Ontario Prime Minister Doug Ford said that he would cancel the 25% rate on Canadian electricity to Michigan, New York and Minnesota that he introduced on Monday.
That step was an escalation in response to previous rates from Trump, since the trade war between the two countries has been intensified.
The prime minister said he spoke to trade secretary Howard Lutnick about the situation and they agreed to meet Thursday to discuss mutual rates that Trump wants to set up on 2 April.
“In response, Ontario agreed to suspend his 25 percent surcharge about the export of electricity to Michigan, New York and Minnesota,” Ford said.
Trump, while later spoke with reporters in the White House on Tuesday, said that because of the play reading of Canada, he is now considering rolling back more rates.
“Well, now I look at, but probably that way,” Trump replied, while he also teased plans to make Canada a state.
“Canada must be honestly our 51st state. We would not have a northern border problem. We would not have a tariff problem, “Trump added.
“Canada would be great if our cherished 51st state. You would not have border problems. You would have nothing. '
Again asked if the rate of 50% would come into force on Canada, he replied, “I will let you know.”
Earlier Tuesday, Trump explained a national emergency in electricity in the United States and doubled the rates on aluminum and steel from Canada after Ford had set the electricity rate.
The president also threatened to 'permanently close' the Canadian car sector in a long position in his social account.
President Donald Trump increases the trade war with Canada
Trump, while later spoke with reporters in the White House on Tuesday, said he is now considering rolling back more rates because of the speles of Canada
The only thing to stop his rates is that Canada becomes the 51st state, he noticed as he increases his trade war.
In response, the stock market fell more than 500 points, while nervous investors are concerned about a possible recession.
The increase in rates, from 25% to 50%, will be agreed on Wednesday, had threatened Trump.
'Based on Ontario, Canada, with a rate of 25% on' Electricity 'that enters the United States, I have instructed my trade secretary to add an additional rate of 25%, at 50%, on all steel and aluminimum that comes from Canada in the United States, one of the world of Trump.
“I will soon explain a national emergency situation in the endangered area,” he added.
Trump's anger remained in a second position in his truth social account, where he warned that Canada will pay a historically large 'financial price' for his electricity rate. Many states in the northeast buy additional energy from Canada.
'Why would our country allow another country to give us electricity, even for a small area? Who has made these decisions and why? And can you imagine that Canada bends so low to use electricity that this influences the lives of innocent people, as a negotiating ship and threat? They will pay a financial prize for this that it will be read for many more years in History Books!, 'Ragineer Trump.
The president spent a large part of Tuesday hammering the northern neighbor of America.
He also warned that there will be more car rates on 2 April. He wants Canada to lower his retaliation rates for American dairy and agricultural products.
“If other serious, long time rates are not fallen in the same way by Canada, I will considerably raise the rates for cars that come to the US on 2 April, which will essentially close the car manufacturer in Canada,” he said.
He closed with an offer to drop all rates when Canada agrees to become the 51st state of the United States.
'The only thing that makes sense is that Canada is our cherished fifty first. This would completely disappear all rates, and everything else, “he wrote.
The markets have shown their accident with the economic decisions of Trump.
On Monday there was fears that a recession would be fueled when the markets refuel, which resulted in the biggest loss of Nasdaq Composite since 2022.
There are more goals on Canada.
Canadians who are in the United States for 30 days or more will soon have to register their information with the United States Government, ABC News reported.
According to a new government rule, they will also have to start fingerprints, which is expected to be placed in the Federal Register on Wednesday.
Trump's Helling War Helling War with Canada comes after the retaliation of Ottawa to American rates imposed last week.
He gets the chance to defend his final round of rates when he speaks with the Business Roundtable, a Trade Association of CEOs on Tuesday evening.
He has argued that his rates are a transition, but also do not exclude a potential recession.
“I hate to predict things like that,” Trump said on Sunday morning Futures of Fox News Channel
'There is a period of transition, because what we do is very big. We bring wealth back to America. That's a big thing. And there are always periods – it takes a while. It takes some time. But not me – I think it should be great for us. I mean, I think it should be great. '
Although Trump has said that the rates are aimed at stopping fentanyl trade in the United States, they have had a rapid impact on the stock market and economy.
By continuing in his combative rhetoric against Canada since the reconsidered office, Trump accused the departing Prime Minister Justin Trudeau of the use of the drama around their tariff war this week to try to 'stay in power'.
Trudeau announced his resignation in January, but in an explosive call on Wednesday between the two leaders, Trump claimed that he hit his northern counterpart.
'Justin Trudeau, from Canada, called me to ask what rates could be done. I told him that many people died of Fentanyl who came through the borders of Canada and Mexico, and nothing has convinced me that it has stopped, “Trump wrote about Truth Social.
“He said it got better, but I said:” That's not good enough. “He went on.
Ontario Premier Doug Ford followed a promise to place a rate of 25% on Canadian electricity to Michigan, New York and Minnesota on Monday
Trump now explains a national emergency situation in electricity
Incoming Canadian Prime Minister Mark Carney has sworn to hire Trump
On Sunday, Mark Carney was elected the new head of the Canada's Labor Party, which means he stands in line to be the next prime minister.
He promised to accept Trump.
“America is not Canada, and Canada will never be part of America, form or form,” he said in his victory speech.
“We didn't ask for this fight, but Canadians are always ready when someone else drops the gloves.”
