CALGARY - Suncor chief executive Rich Kruger says that while all Canadian businesses will feel a hit from tariffs, his company is fairly well-positioned to limit the impact. He says the company's large Canadian refining footprint and higher capacity than peers to export crude from the coast makes it less exposed to tariffs compared with some companies more reliant on shipping unrefined heavy crude south of the border. Kruger says that while he thinks the U.S. needs Suncor just as it needs [Read more]
Quebec open to rekindled GNL Québec gas facility project amid U.S. tariff threats
QUÉBEC - The Quebec government says it would be open to reviving a controversial liquefied natural gas project in the province’s Saguenay region to ship energy from Alberta overseas. Quebec refused to authorize GNL Québec Inc.'s proposed liquefaction facility and export terminal in 2021 and Ottawa followed suit in 2022, citing environmental concerns. However, U.S. President Donald Trump’s threats to impose tariffs on Canadian energy have increased the urgency for Canadian oil and gas [Read more]
Ministers call on Washington lawmakers to scrap tariff threat completely
WASHINGTON - A month-long pause on Donald Trump's tariff threat has done little to ease Canadian concerns as key cabinet ministers return to Washington hoping to push the devastating duties off the table permanently. "I do think there are opportunities for conversations to enable us actually to move away from the conversation about tariffs," Energy and Natural Resources Minister Jonathan Wilkinson said Tuesday. Wilkinson is making the case among key Republicans for a Canada-U. S. energy [Read more]
China counters with tariffs on US products. It will also investigate Google
BEIJING (AP) — China announced retaliatory tariffs on select American imports and an antitrust investigation into Google on Tuesday, just minutes after a sweeping levy on Chinese products imposed by U.S. President Donald Trump took effect. American tariffs on imports from Canada and Mexico were also set to go into effect Tuesday before Trump agreed to a 30-day pause, as the two countries acted to address his concerns about border security and drug trafficking. Trump planned to talk with [Read more]
Alberta’s Smith lauds pause on U.S. tariffs, deal to create fentanyl czar
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]
Which industries will feel the pinch of Trump’s tariffs the hardest?
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]
Trump to slap Canada with 25 per cent tariffs Tuesday, sources say
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]
Alberta awaits details as U.S. now promises reduced 10 per cent tariff on oil
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]
RBC quits UN-backed Net-Zero Banking Alliance
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]
Trump’s call for OPEC to bring down cost of oil conflicts with his agenda: experts
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]
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