Trump also pinned the blame for inflation and illegal immigration on previous US President Joe Biden

 Trump Steps Back from Trade War Expansion with Canada latest news: In a dramatic turn of events, US President Donald Trump revealed that Canada will not be levying tariffs on electricity entering the United States after he stepped back from a huge trade war expansion with its northern ally. Trump blamed Canada and Mexico for treating the US "unfairly" and also targeted the European Union, calling it "horrible".

Addressing reporters on Tuesday, Trump stated, "There is a very powerful man in Canada who said that he was going to put a surcharge or a tariff on electricity coming into our nation. He called me and he told me he isn't going to do it. And it would have been very bad if he did. And he's not going to do it, so I appreciate it.".

Trump also pinned the blame for inflation and illegal immigration on previous US President Joe Biden, declaring that his predecessor had left him with a "mess" and a "terrible situation" for the American people. He pledged that his government will get the US "rich again".

Earlier on Tuesday, Trump retreated from a trade war escalation that had threatened a huge hike in tariffs on Canadian steel and aluminum and new tariffs on Canadian electricity. In return, Canada suspended surcharges on electricity to US customers. US Commerce Secretary Howard Lutnick, Ontario Premier Doug Ford, and Canada's Minister of Finance Dominic LeBlanc said they would meet on Thursday to renegotiate the free trade agreement called the USMCA.

Ontario suspended 25 percent tariffs on New York, Michigan, and Minnesota imports of electricity. Previously, Trump had threatened to place a 50 percent tariff on Canada's steel and aluminum but indicated afterwards that he would retreat.

Trump posted on Truth Social, "Based on Ontario, Canada, adding a 25% Tariff to 'Electricity' entering the United States, I have directed my Secretary of Commerce to add an ADDITIONAL 25% Tariff, to 50%, to all STEEL and ALUMINUM ENTERING THE UNITED STATES FROM CANADA, ONE OF THE TOP TARIFFING COUNTRIES ANYWHERE IN THE WORLD.".

Ford threatened to cut off the supply of electricity to the US, while Canada's Prime Minister-Designate Mark Carney promised to continue putting pressure on the US regarding Trump's tariff measures. White House Press Secretary Karoline Leavitt stated that Trump has not yet spoken with Carney but that "his phone is always open to leaders who wish to speak with him.".

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