Trump's proposed tariffs on Canadian imports could disrupt U.S.-Canada trade and threaten critical oil flows.
President-elect Donald Trump said on social media Monday he would slap import tariffs on products from China but also Mexico and Canada, sending shockwaves across the Canadian economy. Crude oil is the top Canadian export to the United States and any tariffs would interfere with flows and revenues.
“In particular, where Canadian exports are used as inputs in American manufacturing, the imposition of tariffs of that magnitude can be expected to have a serious negative impact on American jobs and the competitiveness of sectors of the U.S. economy and seems antithetical to the stated objectives of the new administration.
U.S.-Canada Trade Crude Oil Exports Canadian Oil Sands Import Tax Energy Trade Mexico Tariffs Truth Social NAFTA Tensions Gulf Coast Refineries
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
German gloom deepens as Trump tariff threat rattles exportersAcute vulnerability to a trade conflict could push struggling economy into recession, analysts warn
Read more »
Trump wins latest: Trump makes first major appointment; three states move to 'Trump-proof' lawsVladimir Putin has described Donald Trump as a 'bullied' and 'brave man' after his monumental political comeback. Meanwhile, three states, including America's most populous, are making moves to protect liberal policies from the next administration.
Read more »
Trade war worries drive euro to two-year lowSingle currency has been a victim of a market shift to anticipate Trump’s tariff policies
Read more »
UK will make 'strong representations' to Trump about tariff plans, Reeves saysExperts have downgraded forecasts for the UK's economic growth in light of Mr Trump's election victory, citing tariff risks.
Read more »
Trump’s tariff obsession is worse than beforeTrying to close current account deficits with trade tools could cause serious damage
Read more »
European stocks and currencies tumble on Trump tariff fearsUS Treasury yields rise as trades pare bets on US interest rate cuts
Read more »