CAPP releases statement on U.S. tariffs

“We are deeply disappointed that U.S. President Trump has decided to institute tariffs on Canadian goods.

Nobody wins with the introduction of tariffs on Canadian energy. These tariffs undermine our mutually beneficial relationship and are likely to increase costs and inflation for American consumers while damaging the economies of both countries.

With the complexity of North American and global oil and natural gas markets, it is difficult to predict how the application of a 10 percent tariff on Canadian oil and gas will impact supply, demand and trade patterns. What we do know is that Canadian producers have demonstrated they are innovative and resilient and will find the best ways to mitigate the impact of tariffs and realign themselves to thrive in a dynamic global market.

CAPP and our members will need to take the necessary time to better understand how these tariffs will be applied and their impact to oil and natural gas trade for Canada before commenting further.”