The stock market did not respond positively to the trade war.
Canadian officials have announced retaliatory tariffs against the U.S. after President Donald Trump followed through with his tariff threat on the nation's largest trade partners.
Prime Minister Justin Trudeau warned that the trade war would hurt Americans, but Ontario Premier Doug Ford went further and said his province was ready to cut off electricity to millions of Americans in New York, Minnesota, and Michigan.
'If they want to try to annihilate Ontario, I will do everything — including cut off their energy with a smile on my face.'
Trudeau spoke from Ottawa and directed his comments to the American people after announcing retaliatory tariffs.
"I want to speak first directly to the American people. We don't want this. We want to work with you as a friend and ally. And we don't want to see you hurt, either," he said.
"But your government has chosen to do this to you. As of this morning, markets are down, and inflation is set to rise dramatically all across your country. Your country has chosen to put American jobs at risk at the thousands of workplaces that succeed because of materials from Canada, or because of consumers in Canada, or both," Trudeau added.