It’s acknowledged there could very well be a Trump ‘Border Tax’ on exports to the U.S., negatively impacting Canadian manufacturing and exports.
However, Canada seems to have been blindsided as the new Border Tax could potentially also shut out Canadian oil.
If it does it could be a massive blow not only to Alberta but to the whole Canadian economy.
Business Report: Donald Trump could compound Canada’s trade troubles
Canada now exports more than three million barrels of oil per day to the U.S.
However, the border tax could ultimately make oil much more expensive for U.S. consumers, a point the new administration will surely have to take into account when deciding whether to levy it.
Meanwhile, as Canadian trade to the U.S. is being threatened on all fronts, Prime Minister Trudeau is more interested in politicking at Town Hall meetings across Canada than rubbing shoulders and meetings with our largest trading partner at the Trump inauguration on Friday.
It’s a slight that won’t go unnoticed.