Prime Minister Justin Trudeau, in a talk with business leaders, said Canada’s wealth of critical minerals are behind Mr. Trump’s comments about making its northern neighbor a U.S. state.

After threatening Canada with tariffs and urging it to become America's 51st state, Trump's attacks have spurred a wave of Canadian pride.

Bank of Canada Governor Tiff Macklem said on Thursday a policy shift in the U.S. was causing uncertainty and President Donald Trump's tariff threats were already impacting businesses and households.