Trump’s proposed tariffs unlikely to include Canadian oil: experts – National
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.
The threat of the tariff is causing a lot of concern north of the border, where the Canadian Chamber of Commerce said such a tariff could take a $30-billion bite out of the Canadian economy.Rory Johnston, a Toronto-based oil market researcher and founder of Commodity Context, said he believes there’s a very small probability that Trump’s fees would apply to Canadian oil, but it is “quite a potentially damaging one.”“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 In...
