From the National Post:
The prospect of a 'Trump tariff' is hanging over Alberta's energy sector after U.S. election
A recent study estimated the tariff could cause Canadian energy exports to the U.S. to decline by as much as 22 per cent
Author of the article:
Rahim Mohamed ([url]https://nationalpost.com/author/rmohamedpostmedia-com/[/url])
Published Nov 18, 2024 • Last updated 2 hours ago • 5 minute read
([url]https://nationalpost.com/news/politics/the-prospect-of-a-trump-tariff-is-hanging-over-albertas-energy-sector-after-u-s-election#comments-area[/url])
OTTAWA — Alberta’s energy sector, which heralded Donald Trump’s surprise 2016 presidential victory as a “huge win” ([url]https://boereport.com/2016/11/09/trumps-win-is-a-huge-win-for-alberta/[/url]) for the province’s economy, was slower to uncork the champagne bottles last week after Trump won a second, non-consecutive term on a more protectionist platform.
Ex-Alberta premier Jason Kenney told the National Post that Trump’s proposed global 10 per cent tariff on all imports is the big mood killer this time around.
“Everyone is rightly concerned about the tariff,” Kenney said in an interview.
Trump still hasn’t said whether he’ll exempt Canadian oil and gas from the tariff and has little incentive to show his hand as he’s promised to pursue a new round of trade negotiations ([url]https://nationalpost.com/news/canada/liberals-poilievre-trump-presidency[/url]) with Canada and Mexico.
A recent University of Calgary study ([url]https://financialpost.com/news/economy/trump-tariff-cost-canadians-1100-per-year[/url]) estimated that the tariff could cause Canadian energy exports to the U.S. to decline by as much as 22 per cent, with losses concentrated in Alberta and the other western provinces.
Alberta shipped C$133.6 billion worth of energy products ([url]https://www.alberta.ca/release.cfm?xID=91353B36A0935-D4A8-B2DA-76938A582A6FDFF9[/url]) to the U.S. last year, accounting for more than 80 per cent of its total cross-border exports.
Alberta Premier Danielle Smith told reporters last week that she was “not worried” ([url]https://calgaryherald.com/opinion/columnists/varcoe-alberta-premier-not-worried-united-states-tariffs-energy-trump[/url]) about Trump slapping tariffs on the province’s energy products but still looks to be hedging her bets by courting state-level officials.
On Thursday, Smith inked an energy security pact ([url]https://www.alberta.ca/release.cfm?xID=91353B36A0935-D4A8-B2DA-76938A582A6FDFF9[/url]) with a dozen U.S. governors, all members of Trump’s Republican Party. Smith and her co-signatories pledged to pursue energy policies that promoted lower energy costs and increased reliability for consumers.
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The prospect of a 'Trump tariff' is hanging over Alberta's energy sector after U.S. election
A recent study estimated the tariff could cause Canadian energy exports to the U.S. to decline by as much as 22 per cent
Author of the article:
Rahim Mohamed ([url]https://nationalpost.com/author/rmohamedpostmedia-com/[/url])
Published Nov 18, 2024 • Last updated 2 hours ago • 5 minute read
([url]https://nationalpost.com/news/politics/the-prospect-of-a-trump-tariff-is-hanging-over-albertas-energy-sector-after-u-s-election#comments-area[/url])
OTTAWA — Alberta’s energy sector, which heralded Donald Trump’s surprise 2016 presidential victory as a “huge win” ([url]https://boereport.com/2016/11/09/trumps-win-is-a-huge-win-for-alberta/[/url]) for the province’s economy, was slower to uncork the champagne bottles last week after Trump won a second, non-consecutive term on a more protectionist platform.
Ex-Alberta premier Jason Kenney told the National Post that Trump’s proposed global 10 per cent tariff on all imports is the big mood killer this time around.
“Everyone is rightly concerned about the tariff,” Kenney said in an interview.
Trump still hasn’t said whether he’ll exempt Canadian oil and gas from the tariff and has little incentive to show his hand as he’s promised to pursue a new round of trade negotiations ([url]https://nationalpost.com/news/canada/liberals-poilievre-trump-presidency[/url]) with Canada and Mexico.
A recent University of Calgary study ([url]https://financialpost.com/news/economy/trump-tariff-cost-canadians-1100-per-year[/url]) estimated that the tariff could cause Canadian energy exports to the U.S. to decline by as much as 22 per cent, with losses concentrated in Alberta and the other western provinces.
Alberta shipped C$133.6 billion worth of energy products ([url]https://www.alberta.ca/release.cfm?xID=91353B36A0935-D4A8-B2DA-76938A582A6FDFF9[/url]) to the U.S. last year, accounting for more than 80 per cent of its total cross-border exports.
Alberta Premier Danielle Smith told reporters last week that she was “not worried” ([url]https://calgaryherald.com/opinion/columnists/varcoe-alberta-premier-not-worried-united-states-tariffs-energy-trump[/url]) about Trump slapping tariffs on the province’s energy products but still looks to be hedging her bets by courting state-level officials.
On Thursday, Smith inked an energy security pact ([url]https://www.alberta.ca/release.cfm?xID=91353B36A0935-D4A8-B2DA-76938A582A6FDFF9[/url]) with a dozen U.S. governors, all members of Trump’s Republican Party. Smith and her co-signatories pledged to pursue energy policies that promoted lower energy costs and increased reliability for consumers.
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