Canada could use 2 key exports as leverage against Trump. One premier says that's a bad idea.
Canadian leaders are looking for leverage over the US, from F-35 purchases and coal shipments to cutting off electricity exports.
Canada is escalating its response to President Donald Trump's trade war, with retaliatory tariffs set to take effect on September 8. However, Saskatchewan Premier Scott Moe cautions against using oil and potash as leverage against the US. Moe emphasizes that any export tariffs on natural resources would harm Canada's economy and job market.
Canada is the world's largest exporter of potash, accounting for about 40% of global exports in 2024, with the US receiving 53% of its shipments. Oil is another red line for Moe, as he deems taxing oil exports as an "unsustainable hit to our Canadian economy." Despite Canada's growing trade deficit with the US, Moe advocates for targeted countermeasures that minimize domestic damage while having a larger impact on the US.
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