The U.S. is Canada's largest trading partner, accounting for 75 percent of Canadian exports. Canada is the largest energy supplier to the U.S., providing 98 percent of its natural gas imports and 93 percent of its electricity imports in 2020, according to Canadian government data.

The Trump administration said tariffs would take effect on Saturday on goods from Canada, Mexico and China. Mexico's president said the tariffs would violate trade agreements with the U.S. President Trump insisted that the tariffs would not lead to more inflation for U.

Trump will impose 25% tariffs on imports from Canada and Mexico and 10% on goods from China, following a pledge he made after winning the White House.