EDMONTON - Alberta Premier Danielle Smith says she's "greatly heartened" by U.S. President Donald Trump's tariff pause, saying the eleventh-hour deal with Canada follows through on a border security measure she had been calling for. Prime Minister Justin Trudeau said late Monday the tariffs will be paused for "at least 30 days" while Canada appoints a "fentanyl czar" and works with the U.S. to combat drug trafficking and organized crime. Trump’s duties of 10 per cent on energy and 25 per [Read more]

OTTAWA - U.S. President Donald Trump signed an order Saturday to impose tariffs of 10 per cent on Canadian energy and 25 per cent on everything else beginning on Feb. 4. Statistics Canada says the value of Canadian exports to the United States in 2023 exceeded $594 billion. More than 43 per cent of that came from just six industries: oil and gas extraction, oil and gas refining, auto manufacturing, aluminum production and processing, aerospace and crop and animal production The U.S. is [Read more]

WASHINGTON - U.S. President Donald Trump will hit Canada with 25 per cent tariffs on Tuesday, with a lower 10 per cent duty for energy, government sources said — laying the foundation for a trade war with America's closest neighbours. The federal government informed provinces Saturday that tariffs are coming, said the provincial sources, who cannot be named in order to share details that governments have not yet made public. It is not yet clear which energy exports would be included in the [Read more]

CALGARY - Alberta Premier Danielle Smith and Canada's energy industry say they will await details before responding to the latest threat by U.S. President Donald Trump surrounding tariffs. Trump says he will impose a 10 per cent tariff on Canadian oil around mid-February after previously promising it would be 25 per cent as part of a blanket tariff on all Canadian exports that is set to begin Saturday. Before that, Trump had promised the sweeping tariffs would come on his first day in [Read more]

TORONTO - RBC has quit the UN-backed Net-Zero Banking Alliance, leaving none of Canada's Big Six banks represented in the group. Canada's largest bank confirmed the move Friday, saying it has the tools and capabilities to implement its climate strategy and measure its performance. RBC's decision to leave comes only days after it was ranked by Bloomberg New Energy Finance as having the worst ratio of clean energy to fossil fuel funding among major global banks. The bank's departure from [Read more]

WASHINGTON - Experts say U.S. President Donald Trump's push for the OPEC+ alliance of oil exporting countries to bring down the cost of oil conflicts with the Republican leader's own plans to make America energy-dominant. Trump made the comments in a wide-ranging address to the World Economic Forum in Davos, Switzerland on Thursday. He also promised his audience tax cuts if they move manufacturing to the U.S. — and threatened to impose tariffs if they don't. "I am also going to ask Saudi [Read more]

TORONTO - A CIBC report says sweeping tariffs imposed by the U.S. could cost the Canadian economy as much as 3.25 per cent, even factoring in possible exemptions for the oil and gas sector. An analysis published Tuesday examined four potential scenarios in which U.S. President Donald Trump slaps new taxes on goods imported from Canada, ranging from 10 to 20 per cent and with possible carve-outs for key industries. Speaking with reporters on Monday evening, Trump said he's thinking about [Read more]

Constellation is buying power natural gas and geothermal power provider Calpine for $16.4 billion, joining together two of the country's biggest power companies. The transaction includes 50 million shares of Constellation stock, $4.5 billion in cash and the assumption of approximately $12.7 billion of Calpine debt. When accounting for cash expected to be generated by Calpine between signing and the expected closing date of the deal, and the value of tax attributes at Calpine, the companies [Read more]