Canada voices concerns over potential U.S. tariffs on oil exports

The Canadian government is concerned about a potential 25% tariff on all exports to the U.S. under the next administration. Natural Resources Minister Jonathan Wilkinson emphasized the need to communicate how such tariffs would be counterproductive. The Trudeau government has criticized the oil and gas industry for its carbon emissions while seeking to reduce production. Canadian oil is crucial for U.S. refineries, especially due to sanctions on Venezuela and Russia. Industry leaders share these concerns, fearing that tariffs would raise prices for U.S. clients. With limited alternative suppliers, a tariff could significantly impact the Canadian oil market.