Carney Refuses to Use Oil as Leverage in US Trade Talks

Canada's Prime Minister Mark Carney has ruled out using the country's oil as leverage in trade talks with the US, despite being a major supplier of crude oil to the US. According to the US Energy Information Administration, Canadian oil accounts for nearly 60% of US crude oil imports.

US President Donald Trump announced new tariffs on Canadian products last week, which are set to take effect on August 19. The tariffs will impact various sectors, including wine, hockey sticks, and cement.

Carney stated that Canadians can be trusted, and using the country's oil as a pressure tactic is not an effective strategy. He emphasized the importance of trust in trade relationships, saying 'One of the biggest commodities, arguably the best, is trust.'