The U.S. president ratcheted up a trade war with America's northern neighbor after Ontario's surcharge on electricity sold to the United States.

The president also announced tariffs that would "permanently shut down" the Canadian automotive industry. For comprehensive updates on political developments and global conflicts,

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.

It will mark the final day of Mr Justin Trudeau's more than nine years in power. Read more at straitstimes.com.

Former central banker Mark Carney, fresh from a landslide victory to become the leader of Canada's ruling Liberal Party and the country's next prime minister, met Justin Trudeau on Monday and said the formal handover of power would be quick.