Trump Dangles Keystone XL Revival as Canada Tariff Deadline Looms
Trump Dangles Keystone XL Revival as Canada Tariff Deadline Looms What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Canada has won a three-day reprieve from President Donald Trump’s threatened 50% tariffs, but a final trade deal remains hung up on Canadian auto exports, leaving Washington and Ottawa until Friday to settle one of their biggest remaining disputes,Reutersreported on Wednesday.
Trump added energy into the mix late on Tuesday, saying the 830,000-bpd Keystone XL oil pipeline “may be awoken from the grave” as part of an agreement.
Trump declared that the two countries “have a DEAL,” subject to finalization of documents, but Canadian Prime Minister Mark Carney stopped short of confirming that.
Carney said only that “substantial progress” had been made and that “important work” remained.
Washington has postponed the tariffs until the end of August 21 while negotiations continue, and Ottawa has not confirmed the contents of any agreement.
SetOilPrice.comas a preferred source in Googlehere.
Washington has offered to cut its 25% tariff on Canadian-made vehicles to 15%, potentially falling as low as 7.5% for vehicles with enough U.S.
Ottawa says that is still too high and wants Canadian and Mexican parts counted alongside U.S.
The difference between the two could determine whether Canada’s languishing auto industry can remain competitive in its largest export market.
The auto fight has also become leverage over the rest of the deal.
Trump wants Canada to unwind retaliatory measures imposed during the trade war, including tariffs on U.S.
vehicles and provincial bans on American liquor, while opening further access to Canada’s protected dairy market.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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