Mr. Trump said the decision came in response to Ontario's move to impose a 25% surcharge on electricity exports to the U.S. Mr. Trump has already imposed a 25% tariff on nearly all imports from Canada, and declared a 25% tariff rate on all steel and aluminum imports from any foreign country.

Ontario, Canada Premier Doug Ford announced in a joint statement with Howard Lutnick, that he would not be imposing a 25% surcharge on electricity to some states.