• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon

2

Current price of oil as of June 8, 2026

3

Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates

1

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon

2

Current price of oil as of June 8, 2026

3

Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
PoliticsDonald Trump

Premier of oil-rich Alberta says Americans will pay a lot more for gas if Donald Trump imposes 25% tariffs on Canada

By
Rob Gillies
Rob Gillies
and
The Associated Press
The Associated Press
Down Arrow Button Icon
By
Rob Gillies
Rob Gillies
and
The Associated Press
The Associated Press
Down Arrow Button Icon
December 20, 2024, 4:33 AM ET
Danielle Smith, Alberta's premier
Danielle Smith, Alberta's premierDavid Kawai/Bloomberg via Getty Images

The premier of Canada’s oil-rich province of Alberta said on Thursday that Americans will pay a lot more for gas if President-elect Donald Trump imposes a 25% tariff on all Canadian products.

Recommended Video

Alberta Premier Danielle Smith said in an interview with The Associated Press that American refineries won’t have much choice but to increase the price of gas. Alberta provides 4.3 million barrels of oil a day to the United States.

“We would be responsible for about 25% of the American need for energy,” Smith told the AP.

The U.S. tends to consume about 20 million barrels a day, according to the U.S. Energy Information Administration. It has also been producing domestically about 13.2 million barrels daily.

“They are going to have to increase the price of gasoline by 25%,” Smith said. “Do Americans really want to pay an extra buck a gallon on gasoline?”

“The president-elect has also talked about his desire to keep things like fuel prices low,” she added.

Trump said the U.S. “subsidizes” Canada and is threating to impose the tariffs on all Canadian goods. He also wants Canada to stem what he calls a flow of migrants and drugs into the U.S. — even though far fewer of each crosses into the U.S. from Canada than from Mexico, which Trump has also threatened.

About 60% of U.S. crude oil imports are from Canada. Alberta has about a trillion barrels of oil, 200 billion of which are recoverable.

Smith said the U.S. faces a problem.

“If you don’t get it from Canada there aren’t a lot of great places you can get it from. You can get it from Venezuela or Iran or Iraq,” Smith said.

“I would humbly argue that Canada is a better friend and ally than any of those jurisdictions,” she added.

Smith also said Canada has a particular type of oil that American refineries need. She said they just need to make sure there are more pipelines.

The sponsor of the Keystone XL crude oil pipeline pulled the plug on that contentious pipeline in 2021, after Canadian officials failed to persuade President Joe Biden to reverse his cancellation of its permit on the day he took office.

Smith would love to get more pipelines approved during Trump’s tenure. She noted Alberta’s government took a billion dollar hit when Keystone XL was nixed as the government backstopped costs.

Smith also noted that Canada has critical minerals the U.S. needs, and that China is banning the export of some minerals to the U.S.

“The U.S. has major aspirations to continue building out its AI data centers and critical minerals are going to be central to that,” Smith said. “Canada has virtually everything the Americans are going to need.”

Canada has 34 critical minerals and metals that the Pentagon is eager for and is also the largest foreign supplier of steel, aluminum and uranium to the U.S.

Nearly $3.6 billion Canadian dollars ($2.7 billion) worth of goods and services cross the border each day. Canada is the top export destination for 36 U.S. states.

Smith responded to a social media post by Trump this week about Canada’s trade surplus, saying the U.S. has a deficit with Canada because Canada sends billions of dollars’ worth of raw materials like oil, gas and timber to U.S. refineries and factories. Smith said the U.S. relies on raw materials from Canada “to make trillions of dollars of wealth in your country.”

About 60% of U.S. crude oil imports and 85% of U.S. electricity imports are from Canada.

Canada’s ambassador to Washington, Kirsten Hillman, has said the U.S. had a $75 billion trade deficit with Canada last year. But she noted a third of what Canada sells into the U.S. is energy exports and said there is a deficit when oil prices are high.

Smith also addressed the uncertainty in Ottawa with Canadian Prime Minister Justin Trudeau facing calls from within his own party to resign.

Trudeau, whose mandate expires next year, is expected to reshuffle his Cabinet on Friday as the crisis mounts.

Smith also called for an election so that Canada would become stronger at the negotiating table with Trump.

“We don’t have a leader of our country who has a four year mandate,” Smith said. “It would be a lot stronger to have a prime minister who says ‘OK we’ve got four years to battle this out, you are not getting rid of me so let’s talk turkey’.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Rob Gillies
See full bioRight Arrow Button Icon
By The Associated Press
See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Trump speaking into a mic.
NewslettersEye on AI
Should Americans get an equity stake in AI? Trump and progressive Democrats float public ownership of AI
By Beatrice NolanJune 9, 2026
2 hours ago
Photo of Scott Bessent
EconomySocial Security
‘We are rapidly running out of time’: Watchdog sounds Social Security alarm after 22% cut confirmed for 2032
By Nick LichtenbergJune 9, 2026
4 hours ago
ssa
North AmericaSocial Security
Crisis, what crisis? Social Security chief says ‘people boo at Yankee Stadium, even when they’re winning’
By Fatima Hussein and The Associated PressJune 9, 2026
4 hours ago
tariff
LawTariffs
The $166 billion tariff refund question: Who actually gets paid back?
By Mae Anderson and The Associated PressJune 9, 2026
4 hours ago
trump
Arts & EntertainmentWhite House
Trump on getting loudly booed by hometown New York: ‘It was, I think, mostly cheers’
By Stephen Whyno, Michelle L. Price and The Associated PressJune 9, 2026
5 hours ago
worm
HealthFood and drink
The pest that could devastate the American cattle industry was in Texas, but now it’s in New Mexico, too
By Jeffrey Collins and The Associated PressJune 9, 2026
5 hours ago

Most Popular

Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon
Environment
Trump, who has repeatedly called climate change fake, is now threatening Brazil with tariffs over the deforestation of the Amazon
By Sasha RogelbergJune 8, 2026
24 hours ago
Current price of oil as of June 8, 2026
Personal Finance
Current price of oil as of June 8, 2026
By Joseph HostetlerJune 8, 2026
1 day ago
Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
Success
Gen Zers are arriving at college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates
By Preston ForeJune 7, 2026
2 days ago
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
Asia
Pentagon accuses Alibaba, Baidu and BYD, three of China's biggest companies, of supporting the Chinese military
By Kate O'Keeffe and BloombergJune 8, 2026
21 hours ago
'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
Economy
'We didn’t see this coming': Wall Street eats its forecasts as stocks sell off globally on fear of AI bubble ahead of SpaceX IPO
By Jim EdwardsJune 8, 2026
1 day ago
'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
Economy
'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money
By Nick LichtenbergJune 7, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.