Trump said he would increase from 25% to 50% tariffs taking effect Wednesday for Canada after Ontario said it would hike electricity prices in the U.S.

Beginning Monday, new market rules require any generator selling electricity to the U.S. to add a 25% surcharge, according to Ford's office. Ontario's government expects to generate revenue of $300,000 to $400,000 Canadian dollars per day, "which will be used to support Ontario workers, families and businesses."

Premier Doug Ford warned that he was prepared to cut off power exports to the three states entirely as long as President Trump’s tariff threats remain.