Summary

Donald Trump launched a trade war against Canada by imposing a 25% tariff on nearly all Canadian goods, including a 10% levy on energy products.

His action, intended to pressure Canada to curb fentanyl flows, contradicts official trade figures and ignores that most deficits result from American demand for cheaper Canadian oil.

The tariffs, set to remain until Canada complies, could cost billions to Canada’s economy and disrupt $800 billion in annual trade.

Canada is expected to retaliate, forcing Prime Minister Trudeau to respond amid escalating cross-border tensions.

  • SomeoneEnglish
    18·
    4 hours ago

    We need at least a 25% export tax on all energy exports. Clearly they need it or it wouldn’t have set a lower rate. 100% of proceeds can go towards building our own refineries to reduce reliance on the US in the future, in Alberta if that will be what it takes to stop their whining.

    • Windex007@lemmy.worldEnglish
      7·
      2 hours ago

      All AB has ever wanted is scaled access to global markets. Canada gets hosed on oil prices because the US is the only meaningful importer and they know we can’t move it to other markets. They’ll always be in the prime negotiation position as long as they’re the only material customer.

      • SomeoneEnglish
        1·
        10 minutes ago

        And BC’s 2 biggest issues with allowing a pipeline (depending on whether you’re talking to the province or the people) are that we’d be taking the risk of shipping crude oil through our islands and remote coastlines, and that we wouldn’t really see any local benefits. Building refineries, whether in Alberta, BC, or otherwise, would alleviate our reliance on the US, lower prices (or at least isolate us from major fluctuations from the exchange rate), and make the product less toxic (figuratively and literally) to those opposed to pipelines.