Canadian officials are threatening to cut off electricity supplies to the U.S.
if the Trump administration follows through on threats to impose 25 percent tariffs on imports from its northern country.
A tariff war between Canada and the U.S. would have major impacts on both countries. In 2023, Canada was far and away the top sources of US petroleum according to the U.S. Energy Information Administration. The U.S. is the destination for 97 percent of Canadian crude oil exports.
The premier of Canada’s most populous province on Wednesday threatened to cut off energy supplies to the U.S. if President-elect Donald Trump implements his proposed tariffs on Canadian goods. This bold move highlights the escalating tensions between the two nations as they grapple with potential trade conflicts
“We will go to the extent of cutting off their electricity going down to Michigan, going down to New York State and over to Wisconsin,” Ontario Premier said during a press conference following a virtual meeting with Canadian Prime Minister Justin Trudeau and other provincial premiers to discuss Trump’s tariff threat.
THE TARIFF WAR EFFECT ON ELECTRICITY SUPPLY;
Trump in November threatened to impose 25 percent tariff on all products from Canada and Mexico unless the two countries take action to curb the flow of drugs and unauthorized migrants to the U.S
Experts also warn that stiff U.S. tariffs would likely push the Canadian economy into a recession in 2025, causing a spike in inflation and forcing the Bank of Canada to pause interest rate cuts next year.
According to Michael Davenport Canada’s electricity, auto and heavy manufacturing sectors would be hit hardest because of the high degree of cross-border trade in these industries.
TRUMP SAYS “I WILL ISSUE ORDER TO CHARGE 25% TARIFF ON GOODS UPON TAKING OFFICE
“25% U.S. tariffs along with proportional retaliatory tariffs would reduce Canada’s exports and cause its GDP to fall 2.5% peak-to-trough by early-2026. Inflation would surge to 7.2% by mid-2025, and 150,000 layoffs would lift the unemployment rate to 7.9% by year-end,” Davenport said.
Canada was reportedly the largest source of U.S. energy imports in 2019, according to the Energy Information Administration.Canada’s two biggest exports to the United States are crude oil and motor vehicles. Donald Trump says he will sign an executive order imposing a 25 per cent tariff on all products coming in to the United States from Canada and Mexico
Trump responded to the threats, saying “that’s okay if he does that.
U.S.A is subsidizing Canada, and we shouldn’t have to do that,” Trump told CNBC at the New York Stock Exchange on Thursday. “And we have a great relationship. I have so many friends in Canada, but we shouldn’t have to subsidize a country.
U.S. president Donald Trump is vanishing off Ontario’s threat to restrict electricity exports in retaliation for sweeping tariffs on Canadian goods,
Ford doubled down Thursday on the idea of cutting off energy exports. The province says that in 2023, Ontario exported enough electricity to power 1.5 million homes in those three states.
Canada supplies more oil to the U.S. than any other country. About 60 per cent of U.S. crude oil imports are from Canada, and 85 per cent of U.S. electricity imports as well
Canada sold $170 billion worth of energy products last year to the united states. It also has 34 critical minerals and metals the Pentagon is eager for
As of 2022, Canada’s biggest export to the United States in terms of value was crude oil, worth $152.6 billion. According to Statistics Canada, the U.S. accounted for 97.4 per cent of Canada’s crude oil exports, with Alberta contributing to 87.4 per cent of the total volume exported to the U.S
CONCLUSION;
IF canada will cut off energy supplies then it would turn off the lights to a million-and-a-half Americans,Canada’s central bank, meanwhile, lowered its key interest rate by half a percentage point on Wednesday and called Trump’s threat to impose sweeping new tariffs on Canada “a major source of new uncertainty.
Read more at: https://boldlyamericana.com/trump-going-to-invade-canada/
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