President Donald Trump, Monday on Truth Social: "Canada is a Tariff abuser, and always has been, but the United States is not going to be subsidizing Canada any longer. We don't need your Cars, we don't need your Lumber, we don't your Energy, and very soon, you will find that out. MAKE AMERICA GREAT AGAIN!!!"

President Donald Trump backed down from an extraordinary trade war escalation Tuesday that had threatened a massive surge in Canadian steel and aluminum tariffs and new tariffs on Canadian electricity.

He also said that markets are going to swing up and down over time, dismissing concerns that led to a sell-off. He said the tariffs were needed in order to get American jobs back