Canada could halt oil and gas imports to the U.S. if Donald Trump imposes steep new tariffs, Ontario Premier Doug Ford warns.

Central banks in the euro area and Switzerland cut rates on Thursday, a day after Canada slashed rates by a hefty 50 bps. Australia, meanwhile, eased its previously dovish tone this week, while Japan remains an outlier.

Ontario Premier Doug Ford said his province was putting together a list of retaliatory measures and would go so far as to cut off energy exports to the U.S. if President-elect Trump slaps Canadian products with a 25 percent tax as promised, the AP reported.