Category Archives: Business & Politics

Business & Politics

Oilpatch wary as Ottawa, provinces threaten energy exports in retaliation over Trump tariffs

By Meghan Potkins
Yahoo! Finance
January 2, 2025
Category: Business & Politics
Region: Canada, United States

The news that US president-elect Donald Trump could slap a 25% tariff on Canadian goods upon taking office in January sent a jolt of alarm through the entire Canadian economy, but the alarm in the oilpatch has only deepened as Ottawa and the provincial governments threaten to target energy exports in retaliation. Energy producers and fuel companies on both sides of the border are growing concerned that commodity flows could be disrupted if a tit-for-tat trade war erupts. …Canada is reliant on U.S. demand for its energy exports, but U.S. refineries have also grown increasingly dependent on Canadian crude. …The federal government said it is also considering retaliatory measures, including an export tax on key commodities, such as oil, potash and uranium, according to Bloomberg. …Trump’s proposed tariffs are also expected to increase energy bills in the northeastern U.S. and to raise electricity costs on both coasts where U.S. consumers are reliant on electricity and natural gas imports from Canada.

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Việt Nam’s wood industry sees chances and challenges from US new trade policies

The Việt Nam News
December 24, 2024
Category: Business & Politics
Region: International

HÀ NỘI — Việt Nam’s wood industry has chances and also challenges due to the predicted new trade policies of US President-elect Donald Trump. In the first 11 months of 2024, Việt Nam’s timber and wooden product exports to the US, one of the most important export markets for the Vietnamese industry, were estimated at over US$14.6 billion. Đỗ Xuân Lập, Chairman of the Việt Nam Timber and Forest Products Association, said the total export value this year is expected to reach over $16.2 billion, including $9 billion from the US or 56 per cent of total export value. …However, the export activities of Việt Nam’s wood industry will face strong challenges from the impact of US policies in early 2025. According to Lập, the US is likely to impose new trade policies when Trump is formally sworn in as the US President. 

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