BREAKING: US and Canada to renegotiate USMCA, Canada suspends 25% charge on electricity exports

The leaders discussed ongoing trade tensions and their shared interest in fostering a stronger economic bond between the two nations.

As a result of their discussions, Lutnick confirmed that he will meet with Ford in Washington on Thursday, March 13, alongside the United States Trade Representative to discuss the renewal of the U.S.-Mexico-Canada Agreement (USMCA). The meeting is set to address key issues ahead of the upcoming April 2 deadline for reciprocal tariffs.

"Secretary Lutnick agreed to officially meet with Premier Ford in Washington on Thursday, March 13 alongside the United States Trade Representative to discuss a renewed USMCA ahead of the April 2 reciprocal tariff deadline. In response, Ontario agreed to suspend its 25 per cent surcharge on exports of electricity to Michigan, New York and Minnesota," Ford posted to social media on Tuesday.

Ford announced that Ontario would suspend its 25% surcharge on exports of electricity to U.S. states, including Michigan, New York, and Minnesota.

Ford had warned on Monday and Tuesday that the escalating trade war between the U.S. and Canada could lead to even more drastic measures, including the complete suspension of electricity exports to the U.S. He expressed concerns that the current trade policies under U.S. President Donald Trump were harming both American and Canadian businesses, with far-reaching consequences for workers and families on both sides of the border.

Ford reiterated his stance on Tuesday, stating, “We’ve always been willing to work with our American neighbors, but the continuation of these unfair trade policies is hurting not just our economy but the American people too. We’re not backing down. We will fight for what’s fair.”

The Premier's comments come on the heels of a warning he issued last week about the potential economic fallout in Michigan and beyond, where he noted that assembly plants could shut down and pension funds could be impacted if tensions continued.

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