The threat of a 25% tariff on Canadian commodities by President-elect Donald Trump has caused a great deal of anxiety in Alberta, Canada’s oil-rich state.
Politicians and energy specialists in Canada are cautioning that the high tariff would have a devastating effect on the economy of America’s northern neighbor and raise costs for US customers.
“Canada has no choice in this,” former energy executive Dennis McConaghy of Alberta told the news.
“It has to find an accommodation with Trump.”
Trump declared on Monday that he will impose a universal tariff on Canada and Mexico when he takes office in January, without mentioning that it would not apply to gas and oil.
