Trump's Trade War with Canada Hits Major Roadblock as Big Oil Flocks to Canadian Infrastructure
President Donald Trump's trade war with Canada has hit a major roadblock. Big oil and asset managers are quietly lining up to invest in Canadian infrastructure, despite Trump's public declarations that he doesn't want 'Canadian anything.'
The largest American oil companies, including ExxonMobil Holdings Corp., ConocoPhillips, KKR & Co. Inc., and Apollo Global Management Inc., are steering clear of Canada's strongest suit: its energy industry.
Last year, the U.S. imported $160-billion worth of oil, gas, and electricity from Canada, highlighting the country's crucial role in powering the American economy.
Experts say Trump's attempt to position Venezuela as a counter to Canada's strength is a bad bluff, and his anti-Canada policies are being undermined by the actions of these major companies.