37 h. ago US Tariffs Prompt Criticism at Houston Energy Industry Gathering

The imminent impact of US trade tariffs elicited concern from company executives and sharp words from Canadian government officials at a major energy industry conference Tuesday.

Economics

5 d. ago Varcoe: 'At the whim of one customer': Trump tariffs a 'wake

How can Canada best “look after itself” in an era of Trump’s tariffs? As polls show more Canadians support building export infrastructure, provincial and business leaders are calling for new pipelines and LNG projects to move ahead. It will take time — and plenty of capital. But it doesn’t mean action can’t be taken. “It’s […]

Economics

5 d. ago JAY GOLDBERG: Canada should counter tariffs by unleashing Canadian energy

With the United States imposing punishing tariffs on Canada’s economy, it’s never been more important to strengthen Canada’s economic position and competitiveness.  A major key to achieving that goal is unleashing Canadian energy.  Over the past decade, the Trudeau government has stifled the growth of Canada’s oil and gas industry at virtually every turn.  Canada should […]

Economics

6 d. ago USMCA compliant goods now safe from Trump but U.S. tariffs remain on Canada

USMCA compliant goods will no longer be subject to U.S. tariffs on Canada after President Donald Trump issued a pause today that will take effect until at least April 2, 2025. For those unfamiliar with the acronym, USMCA is the trade agreement that exists between the United States, Mexico and Canada. It took effect back in 2020 and replaced what was previously known as the North American Free Trade Agreement (NAFTA). The agreement was formed to provide more opportunities for trade between the three countries and, according to the United States government website, provide mutual benefits for "North American workers, farmers, ranchers, and businesses."Today's update means that the United States will no longer place 25 per cent tariffs on many Canadian goods entering the country. The U.S. will not be pausing the 10 per cent tariffs on Canadian oil and other energy that is not covered under the USMCA. Canadian potash will also be subject to 10 per cent tariffs.T...

Economics

6 d. ago What it means that U.S. tariffs don't apply to USMCA compliant goods from Canada

USMCA compliant goods will no longer be subject to U.S. tariffs on Canada after President Donald Trump issued a pause until at least April 2, 2025. For those unfamiliar with the acronym, USMCA is the U.S. term for the trade agreement that exists between the United States, Mexico and Canada. It took effect back in 2020 and replaced what was previously known as the North American Free Trade Agreement (NAFTA). The agreement was formed to provide more opportunities for trade between the three countries and, according to the United States government website, provide mutual benefits for "North American workers, farmers, ranchers, and businesses."The pause means that the United States will no longer place 25 per cent tariffs on many Canadian goods entering the country. The U.S. will not be pausing the 10 per cent tariffs on Canadian oil and other energy that is not covered under the USMCA. Canadian potash will also be subject to 10 per cent tariffs.The USMCA d...

Economics

6 d. ago U.S. tariffs not changing appetite for acquisitions, Canadian Natural Resources says

'If you look at our reserve base, we have ample opportunity to grow organically,' says CNRL president Scott Stauth

Economics

6 d. ago South Bow says tariffs could create challenges in its marketing segment

CALGARY – South Bow Corp., the oil pipeline operator spun off from TC Energy Corp. last year, says its marketing segment, which provides transportation, storage and logistics services, could come under pressure if a 10 per cent tariff on U.S. energy exports persists. The levy imposed this week, and Canadian countertariffs against the U.S., have […]

Economics

7 d. ago Ontario restaurant responding to U.S. tariffs with 25% off dessert

As the trade war between Canada and the United States intensifies, many businesses across Ontario are adjusting their strategies and reducing their reliance on American ingredients, suppliers, and goods.President Donald Trump's executive order hits Canada and Mexico with 25 per cent tariffs across the board, as well as a 10 per cent levy on Canadian energy. In response, Trudeau said Canada would be hitting back with 25 per cent retaliatory tariffs on $30 billion worth of American products immediately, just after the order took effect on Tuesday.Ontario Premier Doug Ford, who is fresh off his third consecutive majority win, also followed through on his promise to remove U.S. alcohol from LCBO stores across the province, which resulted in the retailer's website being taken offline temporarily on Tuesday.As a result, many Canadian companies — including dessert chain Demetres — have taken it upon themselves to navigate the current trade challenges through creative ways."When...

Economics

7 d. ago In Maine, gas price increases linked to Trump tariff on Canadian imports

HALIFAX — Experts are linking rising gasoline prices in the U.S. northeast to President Donald Trump’s tariffs on Canadian energy imports, but they warn the trend may also hurt Atlantic Canada’s energy producers. According to Canada’s consulate general in Boston, eight of every 10 cars on the road in New England use fuel from Canadian […]

Economics

7 d. ago Premier Danielle Smith to speak Wednesday about Alberta’s response to U.S. tariffs

U.S. President Donald Trump on Tuesday slapped sweeping 25 per cent tariffs on Canadian exports and a 10 per cent levy on energy products.

Economics

7 d. ago Here’s the latest as the U.S. imposes tariffs on goods from Canada and Mexico

OTTAWA — U.S. President Donald Trump has imposed tariffs on imports from Canada and Mexico including a 25 per cent across-the-board levy, with a lower 10 per cent charge on Canadian energy, triggering a continental trade war. Canada has responded with 25 per cent retaliatory tariffs on $30 billion worth of American products, and will […]

Economics

8 d. ago Lorne Gunter: Best response to U.S. tariffs is building a cross

Good Lord, it took the worst U.S. president I can remember to make me agree with the worst Canadian prime minister ever. After Donald Trump signed an executive order imposing 25 per cent tariffs on most Canadian goods (10 per cent on energy) beginning Tuesday, Trudeau responded by imposed 25 per cent tariffs on about […]

Economics

8 d. ago Pipeline giant makes big bet on Canadian crude as U.S. tariffs drop on oilpatch

There is speculation among investors tariffs on Canadian crude could divert more barrels through the Trans Mountain pipeline

Economics

8 d. ago Canadian recession looms this year if U.S. tariffs stay in place: Economists

Economists say the Canadian economy is poised to plunge into a recession this year if U.S. tariffs that took effect Tuesday morning remain in place. U.S. President Donald Trump’s executive order hitting Canada and Mexico with 25 per cent across-the-board tariffs, with a lower 10 per cent levy on Canadian energy, took effect at 12:01 […]

Economics

8 d. ago Prime Minister Justin Trudeau issues statement on U.S. tariffs on Canada

Prime Minister Justin Trudeau will be holding a press conference later this morning at 10:30 a.m. EST to discuss Canada's response to the U.S. tariffs and the previously announced countermeasures on American products that has now gone into effect. Trudeau will be joined by Minister of Finance and Intergovernmental Affairs, Dominic LeBlanc, the Minister of Foreign Affairs, Mélanie Joly, and the Minister of Public Safety, David J. McGuinty.In a statement released yesterday, Trudeau said there was "no justification" for the U.S. tariffs and confirmed that Canada's tariffs on the U.S. would take effect today.Here is the full statement from Prime Minister Justin TrudeauToday, after a 30-day pause, the United States administration has decided to proceed with imposing 25 per cent tariffs on Canadian exports and 10 per cent tariffs on Canadian energy. Let me be unequivocally clear – there is no justification for these actions.While less than 1 per cent ...

Politics

9 d. ago Here's the list of U.S. products now subject to Canadian tariffs

Canada and the U.S. are now in a trade war so expect many goods to get more expensive as well as local businesses to continue to seek alternatives to American products.Many restaurants in Canada have already announced they have taken U.S. products off their menus.Effective today, March 4, the U.S. has imposed 25 per cent tariffs on all Canadian goods with the exception of energy and critical minerals which are subject to 10 per cent tariffs.Canada's counter-measures will also go into effect today which means a number of products crossing into our border from the U.S. will now also be subject to tariffs. Expect to also see American products removed from store shelves such as U.S. alcohol brands at the LCBO.Here's the official list of American products now affected by the 25 per cent tariffs imposed by the Canadian government as a counter-measure to the U.S. tariffs:Live poultry including chickens, ducks, geese, turkeys and guinea fowls.Fresh, chilled or frozen meat, poultry...

Economics

9 d. ago THE LATEST: U.S. imposes tariffs on goods coming from Canada, Mexico

OTTAWA — U.S. President Donald Trump has imposed tariffs on U.S. imports today coming from Canada and Mexico. The president’s executive order hitting Canada and Mexico with 25 per cent across-the-board tariffs, with a lower 10 per cent levy on Canadian energy, took effect at 12:01 a.m. ET. Here’s the latest news (all times Eastern): […]

Economics

9 d. ago Deadline for Trump’s tariffs passes with no relent; Canada counters in response

WASHINGTON — Canadians are waking up to a new and uncertain reality after U.S. President Donald Trump’s deadline for economy-wide tariffs passed with no relent overnight, triggering a continental trade war. The president’s executive order hitting Canada and Mexico with 25 per cent across-the-board tariffs, with a lower 10 per cent levy on Canadian energy, […]

Economics

1 week ago Canada waiting to see if Trump starts North American trade war with steep tariffs

WASHINGTON — Canada is bracing to see whether U.S. President Donald Trump follows through on his threats of economy-wide tariffs — or whether another last-minute pause materializes, averting a North American trade war. Trump’s executive order to implement 25 per cent tariffs on all Canadian products, with a lower 10 per cent levy on energy, […]

Economics

2 w. ago Varcoe: Canadian oil producers face $7B hit from Trump energy tariffs — but U.S. consumers would see $22B wallop, study finds

In a business world that strives for the win-win, U.S. President Donald Trump may achieve the rare lose-lose for consumers and producers with proposed tariffs on Canadian energy — but a windfall for U.S. government revenues. A new report by Goldman Sachs estimates just how large losses would be for companies and consumers on both […]

Economics