President Donald Trump on Thursday threatened Canada with a 50% tariff on any aircraft sold in the U.S.

President Donald Trump said that any trade arrangement between Canada and China that facilitates access to the U.S. market would trigger immediate retaliation.

The withdrawal of Canada's invitation adds to the escalating tensions between the U.S. and world leaders.

Canadian Prime Minister Mark Carney said in a speech at the World Economic Forum that powerful countries, like the U.S., are taking advantage of weaker nations.

The prime minister added that he expects China to lower tariffs on Canadian canola from 84% to 15% by March 1.