Whether US Tariffs Stick Or Not, Canada’s Oilpatch May Not Feel Much Impact

Pumpjacks draw out oil and gas from wellheads near Calgary on April 28, 2023. The Canadian Press/Jeff McIntosh

While uncertainty on whether the U.S. tariffs are here to stay grips Canada, the oil and gas sector may not need to worry given the U.S. need for Canadian energy, analysts say.

U.S. President Donald Trump went ahead with imposing blanket 25 percent tariffs on Canada on March 4, with the tariffs lowered to 10 percent for Canadian energy. The next day, he announced a one-month exemption for automakers.