Lots of Uncertainty in Alberta’s Oil and Gas Sector, Even With Announced Lower Tariffs

With U.S. tariffs on Canadian goods set to begin Tuesday, business groups say even the reduced tariff on Canadian energy will damage economies on both sides of the border.

U.S. President Donald Trump signed an executive order to put a 25 per cent tariff on Canadian goods and a 10 per cent tariff on Canadian energy starting Tuesday.

Scott Crockatt at the Business Council of Alberta says there is some relief from the oil and gas sector that they will see a lower levy, but there are no victory dances being done.

Lisa Baiton, president and CEO of the Canadian Association of Petroleum Producers, says it is difficult to predict how the oil and gas tariff will impact supply, demand and trade, but Canadian producers are resilient.

The Explorers and Producers Association of Canada says the incoming tariffs will affect both the Canadian and U.S. economies and increase energy costs to all Americans.

Alberta Premier Danielle Smith says Alberta will continue to oppose any effort to ban exports to the U.S. or to tax goods leaving Canada for the U.S. because she says that will hurt Canadians far more than it hurts Americans.

This report by The Canadian Press was first published Feb. 1, 2025.

Lisa Johnson, The Canadian Press

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