U.S. President Donald Trump says he will determine by Thursday night whether Canadian oil will be included in the 25% tariffs he plans to impose on Canadian and Mexican goods starting February 1.
Speaking to reporters in the Oval Office on Thursday, Trump reiterated his intention to move forward with the hefty tariffs, which he claims are necessary to address trade imbalances and pressure Canada and Mexico on border security and trade fairness.
When questioned about whether the tariffs would apply to Canadian oil exports, Trump indicated that a decision would likely come later that evening.
“We may or may not [include oil]. We’re going to make that determination probably tonight,” Trump said. “They send us oil. We’ll see—it depends on what their price is.”
Trump’s stance on the tariffs has been inconsistent. While he initially linked the tariffs to demands for improved border security, he has also frequently criticized Canada and Mexico for what he describes as unfair trade practices.
“Mexico and Canada have never been good to us on trade. They’ve treated us very unfairly on trade, and we will be able to make that up very quickly because we don’t need the products that they have,” Trump said. “We have all the oil you need, we have all the trees you need—meaning lumber. We have more than almost anybody in those two categories.”
The potential tariffs have sparked concern in Canada, where officials have been working to demonstrate that such measures are unnecessary. Recent efforts include a crackdown on fentanyl trafficking and other initiatives aimed at addressing U.S. concerns.
Analysts have noted that Trump’s tariff threats highlight the vulnerabilities of Canada’s energy sector, particularly its reliance on U.S. infrastructure, such as pipelines, to export oil.
The decision, expected Thursday night, could have significant implications for cross-border trade and the broader economic relationship between the two nations.