WASHINGTON — President-elect Donald Trump's promise to slap an across-the-board tariff of at least 10 per cent on all imports including from Canada is unlikely to apply to Canadian oil, energy experts are predicting.
WASHINGTON — President-elect Donald Trump's promise to slap an across-the-board tariff of at least 10 per cent on all imports including from Canada is unlikely to apply to Canadian oil, energy experts are predicting.
"Canada is uniquely vulnerable to market pressure posed by U.S. refineries given our lack of alternative egress," Johnston said during a panel for the Canadian Global Affairs Institute Wednesday. More than 77 per cent of Canadian exports go to the U.S. and trade comprises 60 per cent of Canada's gross domestic product. A significant proportion of that comes from oil and gas.
Johnston added there could be a situation where Canada sees a boon from Trump's tariffs. If the Republican leader puts those fees on all oil imports except Canada"that is actually a net good thing for Canadian exports." Fen Hampson, a professor of international affairs at Carleton University in Ottawa and co-chair of the Expert Group on Canada-U.S. Relations, said he’s not certain the Republican leader would be willing to give a tariff concession under Trudeau.
Robert Lighthizer, Trump's then-trade representative, recounted in his book that U.S.-Canada relations were"at their lowest ebb since the failed American invasion of Upper Canada during the War of 1812."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian support for Donald Trump higher than in last U.S. presidential election, survey findsWhile more Canadians are signalling their support former U.S. president Donald Trump, the majority remains hopeful for a Democratic win.
Read more »
Donald Trump Takes A Skeptical View Of Nuclear Energy On Joe Rogan’s PodcastAlexander Kaufman is a senior reporter at HuffPost, based in New York. He covers energy and climate change. A two-time winner of the SEAL Environmental Journalism Award and a 2024 recipient of the Covering Climate Now Journalism Award, he has filed stories from the Arctic and the Amazon, Europe and East Asia.
Read more »
David Rosenberg: If Donald Trump wins, the Canadian dollar is in big troubleSay hello to a 66-cent loonie
Read more »
David Rosenberg: If Donald Trump wins, the Canadian dollar is in big troubleSay hello to a 66-cent loonie
Read more »
David Rosenberg: If Donald Trump wins, the Canadian dollar is in big troubleSay hello to a 66-cent loonie
Read more »
Former U.S. commerce secretary says he 'can't imagine' Trump would tax Canadian energyUS Secretary of Commerce Wilbur Ross testifies about the fiscal year 2021 budget during a Senate Appropriations subcommittee on Commerce, Justice, Science and Related Agencies hearing on Capitol Hill in Washington, DC,on March 5, 2020.
Read more »