Tariffs of 25% are still going ahead and will take effect from the 12 March.

The move by the president comes after the Canadian province of Ontario suspended new charges of 25% on electricity that it sends to some northern states in the US, hours after Trump threatened to sharply increase his tariffs on the country.

It marked the latest skirmish in a trade war that risks economic damage to the two North American neighbors.

Cooler heads prevailed," said Trump trade adviser Peter Navarro told broadcaster CNBC, confirming that Trump would not move forward with his latest tariff threats.

Canada, one of America's closest trade partners, has borne the brunt of Trump's ire as he has launched trade battles in his first months in office.