Alberta Businesses Caught in Crossfire of Canada-U.S. Trade War

Alberta businesses are caught in the crossfire of the Canada-U.S. trade war as Canadian counter-tariffs are set to kick in next week, unless a new trade deal is reached within the next few days.

Canadian companies that import goods from the U.S. will face 50% tariffs on more than $27 billion of products, including steel, agriculture, appliances, electronics, and pulp and paper products.

Saturn Oil & Gas CEO John Jeffrey expects Canadian tariffs on U.S. steel products used in the oil and gas sector to affect his business, with well expenses increasing by about 3-5% or $5 million to $15 million annually.

ATB Financial estimates that around 20% of Canadian small- and medium-sized companies export products, but half are importers, making them more vulnerable to the retaliatory tariffs.