Trump's tariffs threat hits Canada's oil and gas drillers

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Trump's tariffs threat hits Canada's oil and gas drillers

//business-finance.news-articles.net/content/202 .. s-threat-hits-canada-s-oil-and-gas-drillers.html

Published in Business and Finance on Monday, March 3rd 2025 at 9:40 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Canada's oilfield drilling and services sector is already showing signs of slowing due to U.S. President Donald Trump's threatened tariffs, triggering fears that an expected industry rebound could stall if such levies go forward.

The article from Reuters discusses how former U.S. President Donald Trump's threat to impose tariffs on Canadian oil and gas if he wins the 2024 election has caused concern among Canadian energy companies. Trump's comments, made during a campaign event, suggested that he would consider tariffs on Canadian oil imports to protect U.S. energy interests. This has led to uncertainty in the Canadian oil and gas sector, particularly affecting companies involved in drilling and exploration. Industry leaders are worried about the potential economic impact, as Canada is a major exporter of oil to the U.S., with significant trade implications. The article highlights the potential for increased costs, reduced competitiveness, and strained trade relations between the two countries, with some experts suggesting that such tariffs could lead to retaliatory measures from Canada.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/trumps-tariffs-threat-hits-canadas-oil-gas-drillers-2025-03-03/ ]

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