Canada warns US tariffs on Canadian oil could force America to rely on oil from Venezuela, a country the US avoids.
Six months after protests following Venezuela's disputed presidential elections, those taken prisoner following the unrest speak about how being arrested has upended their lives. (AP/Juan Arraez)
Canada’s Foreign Minister Melanie Joly warned that proposed U.S. tariffs could force America to rely on Venezuelan oil imports, as tensions escalate ahead of President Donald Trump‘s planned 25% levy on Canadian goods starting Feb.
President Donald Trump continues to advance his agenda with executive actions ahead of a deadline to impose tariffs on imports from Canada and Mexico this weekend. Follow for live updates.
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In his inaugural address, U.S. President Donald Trump declared that he would overhaul the American trade system and establish an External Revenue Service to collect “massive” tariffs, duties and other revenue. Later that day, he said he was considering imposing tariffs on Canada and Mexico on Feb. 1.
Hypothetically, Raymond James estimates that a 25% tariff, which equates to $15 a barrel on top of the current $62 Western Canadian Select crude price, would add an average of 10 cents a gallon to gasoline at the pump, though the actual price impact would differ across states, he said.
The arrangement, known as a "Safe Third Country" agreement, would empower U.S. immigration officials to deport non-Salvadoran migrants to El Salvador.
The Canadian dollar rose to a near three-week high against its U.S. counterpart on Monday, as investors weighed the potential for Canada's economy to escape broad-based U.S. tariffs and a report ...
Bank of Canada cuts key rate 0.25% but warns of tariff uncertainty Bank of Canada cuts key rate 0.25% but warns of tariff uncertainty The quarter-point reduction marks a step down from the Bank of ...