This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: ‘No one wins in a trade war’: Alberta power consultants responds to decrease tariff
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > World > ‘No one wins in a trade war’: Alberta power consultants responds to decrease tariff
World

‘No one wins in a trade war’: Alberta power consultants responds to decrease tariff

Editorial Board Published February 3, 2025
Share
‘No one wins in a trade war’: Alberta power consultants responds to decrease tariff
SHARE

With each Canada and the US set to implement tariffs on one another’s items, there may be some aid for Canada’s power sector.

Many Canadian merchandise shall be slapped with a 25 per cent tariff on Tuesday. Business consultants say the decrease 10 per cent tariff proves how Alberta’s oil and gasoline is essential for each nations.

Scott Crockatt, vice-president of communications for the Enterprise Council of Alberta, mentioned the transfer by U.S. President Donald Trump was disappointing. Nonetheless, he calls the choice to maintain power out of the 25 per cent penalty important.

“No one wins in a trade war is the reality,” he defined. “The fact that the tariff is different on energy products than it is on the rest of the economy is meaningful because energy is the biggest portion of what we trade with the United States. And from an Alberta perspective – overwhelmingly,” he added.

Story continues beneath commercial

Crockatt mentioned it nonetheless isn’t clear how the tariff will affect the financial system. He mentioned he’s already listening to power corporations in Canada transferring cautiously with investments and tasks.

“The reality is this is going to cost tens of thousands of jobs in Canada,” he mentioned.

Richard Masson, school member on the College of Calgary’s College of Public Coverage, and former CEO of the Alberta Petroleum Market Fee, believes corporations will begin re-evaluating tasks.

“I would be surprised if it doesn’t result in some companies saying, ‘I’m just not going to spend money in this environment.’ It’s too uncertain,” Masson defined.

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Get breaking Nationwide information

“It won’t happen on Tuesday. But over the course of the coming few weeks, we’ll start to see announcements like that.”

Masson expects to see increased gasoline and diesel costs within the U.S., however as a result of the tariff for power is barely 10 per cent moderately than 25, he doesn’t anticipate demand will drop immediately.

“What might have been 75 cents a gallon will be 25 cents a gallon. That probably doesn’t get U.S. consumers to change behaviour very much. If that’s the case, then demand for Canadian oil stays about the same,” he defined.

In a press release Saturday, Alberta Premier Danielle Smith expressed disappointment however mentioned she would proceed to oppose any effort to ban exports to the U.S. or tax Canadian items travelling south of the border.

Story continues beneath commercial

Smith partially credit her authorities with the diminished tariff fee.

“We’ve pointed out the substantial wealth created in the U.S. by American companies and tens of thousands of American workers who upgrade and refine approximately $100-billion of Canadian crude into $300-billion of product sold all over the world by those same U.S. companies,” she mentioned.

Trending Now

Canada’s retaliatory tariffs: Right here’s the record of focused objects

After Trump tariffs, Trudeau reveals $155B counter-tariffs on U.S.

“Alberta will also work collaboratively with the federal government and other provinces on a proportionate response to the imposed U.S. tariffs through the strategic use of Canadian import tariffs on U.S. goods that are more easily purchased from Canada and non-U.S. suppliers. This will minimize costs to Canadian consumers while creating maximum impact south of the border. All funds raised from such import tariffs should go directly to benefit the Canadians most harmed by the imposed U.S. tariffs,” her assertion continued.

There are calls from the oil and gasoline sector to not prohibit power commerce or impose an export tax.

Throughout his tackle to the nation on Saturday relating to retaliatory tariffs, Prime Minister Justin Trudeau was requested whether or not blocking power exports have been totally off the desk.Trudeau mentioned he would want full help from regional, provincial and enterprise companions earlier than doing so.

“Any conversations around further measures, particularly involving one industry and one region of the country more than another, is something we’ll do carefully and thoughtfully,” Trudeau acknowledged.

Story continues beneath commercial

“No one part of the country should be carrying a heavier burden than any other.”

Click to play video: 'Ontario pulls U.S. alcohol off LCBO shelves in response to Trump tariffs'

2:06Ontario pulls U.S. alcohol off LCBO cabinets in response to Trump tariffs

Earlier Video

Subsequent Video

TAGGED:AlbertaEnergyexpertsRespondstarifftradewarwins
Share This Article
Twitter Email Copy Link Print
Previous Article Grammys 2025: The Full Record of the Evening’s Largest Winners Grammys 2025: The Full Record of the Evening’s Largest Winners
Next Article Full checklist of 2025 Grammy Award winners Full checklist of 2025 Grammy Award winners

Editor's Pick

New Council of Financial Advisors report finds tariffs not inflicting inflation

New Council of Financial Advisors report finds tariffs not inflicting inflation

Former Trump administration head of financial coverage Tomas Philipson discusses President Trump’s commerce talks with South Korea and Japan, present…

By Editorial Board 4 Min Read
Denise Richards’ Husband, Aaron Phypers, Recordsdata For Divorce
Denise Richards’ Husband, Aaron Phypers, Recordsdata For Divorce

Studying Time: 3 minutes Denise Richards could quickly be headed for divorce…

4 Min Read
NBA Summer time League takeaways: Warriors rookie Will Richard makes debut vs. Spurs
NBA Summer time League takeaways: Warriors rookie Will Richard makes debut vs. Spurs

Richard makes debut SAN FRANCISCO – The Warriors‘ acquisition of their three…

5 Min Read

Oponion

Dense fog advisory issued for South Alabama Wednesday morning, visibility all the way down to 1/4 mile

Dense fog advisory issued for South Alabama Wednesday morning, visibility all the way down to 1/4 mile

At 6:56 a.m. on Wednesday, the Nationwide Climate Service issued…

April 30, 2025

You have to hand it to them: GOP needs to limit porn

A pair of congressional Republicans have…

May 9, 2025

How Trump bullied Colombia into accepting immigrant deportation flights

President Donald Trump introduced Sunday that…

January 27, 2025

Taking the Games Out of GameStop

A videogame retailer without games? The…

December 9, 2021

Three-bedroom residence sells for $2 million in San Ramon

Bay Space Residence Report 2906 Morgan…

January 28, 2025

You Might Also Like

Heidi Alexander says ‘equity’ will probably be authorities’s ‘tenet’ in relation to taxes at subsequent price range | Politics Information
World

Heidi Alexander says ‘equity’ will probably be authorities’s ‘tenet’ in relation to taxes at subsequent price range | Politics Information

One other trace that tax rises are coming on this autumn’s price range has been given by a senior minister.…

4 Min Read
Cosplay mannequin claims she stabbed her fiancé in self-defense; prosecutors say safety cameras show in any other case
World

Cosplay mannequin claims she stabbed her fiancé in self-defense; prosecutors say safety cameras show in any other case

This story beforehand aired on Oct. 28, 2023. Melissa Turner referred to as 911 saying she had found her fiancé…

53 Min Read
North Korea holds first Pyongyang Worldwide Marathon since borders have been sealed throughout COVID pandemic
World

North Korea holds first Pyongyang Worldwide Marathon since borders have been sealed throughout COVID pandemic

North Korea hosted the primary Pyongyang Worldwide Marathon in six years on Sunday, welcoming worldwide runners to the remoted autocratic…

4 Min Read
220-year-old shipwreck present in harbor of Croatian ‘Sport of Thrones’ metropolis
World

220-year-old shipwreck present in harbor of Croatian ‘Sport of Thrones’ metropolis

Employees putting in a water pipeline in Croatia made an sudden discovery, unearthing the stays of an 18th-century picket boat.…

3 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?