As the largest oil supplier to the U.S., Canada ships about 4 million barrels per day, primarily to Midwest refineries reliant on its crude. Wilkinson also noted that tariffs on U.S.-bound ethanol are "absolutely" under consideration as part of potential retaliatory measures, particularly if Trump proceeds with plans to impose a 25% tariff on Canadian goods in April.
Meanwhile, Ontario Premier Doug Ford threatened a 25% surcharge on electricity exports to U.S. homes before agreeing to hold talks with U.S. officials. Alberta’s Energy Minister Brian Jean has pushed for de-escalation, offering alternative proposals to Washington. However, Canada has already threatened retaliatory tariffs on $155 billion worth of U.S. imports, with an initial $30 billion in goods identified for immediate action. U.S. ethanol, which has seen record exports to Canada, is among the key targets due to its competitive advantage from U.S. subsidies under the Renewable Fuel Standard.
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