Canada Considering Export Tax on Certain Commodities to the U.S.

According to an informed source, the Canadian government is considering implementing export tariffs on certain commodities to the United States if President Donald Trump fulfills his pledge to impose a 25% tariff on all Canadian imports. The source noted that the affected commodities could include energy products, primarily crude oil, potash, and uranium, although no final decision has been made. Nearly all crude oil exported from Canada goes to the United States.

In a statement this week, Prime Minister Justin Trudeau indicated that Canada would retaliate if Trump imposes the 25% tariff on products imported from Canada. Trudeau mentioned that officials are exploring the best ways to exert pressure on U.S. lawmakers and business leaders and to respond accordingly.

Finance Minister Chrystia Freeland stated on Wednesday evening that the Prime Minister and provincial leaders are discussing measures that could affect the shipment of critical minerals and certain metals to the United States.