Frequently Asked Questions
What is a tariff?
A tariff is a tax that a country places on imported goods. It makes those goods more expensive, which can impact businesses and consumers.
How will these tariffs impact people in Canada?
Tariffs can increase costs for businesses, which often leads to higher prices for everyday products. They can also hurt industries that rely on exporting goods to the U.S., potentially leading to job losses.
Why is the U.S. so important for Alberta’s trade?
The U.S. is Alberta’s biggest trade partner, buying over $156 billion worth of goods in 2023. It’s also the largest source of foreign investment in the province.
Will the Edmonton region be less impacted than the rest of Alberta?
No. Even though many energy company head offices are in Calgary, a large part of the actual energy sector work happens in and around Edmonton. This includes refining, petrochemical processing, manufacturing, and transportation—all industries that could be hit hard by tariffs.
Will these tariffs cause job losses in Alberta?
Possibly. Some industries might see job cuts if exports slow down or if companies move production elsewhere to avoid tariffs.
Could these tariffs lead to a trade war?
Yes. If Canada responds with its own tariffs, the U.S. might impose even more, leading to reduced trade, slower economic growth, and uncertainty for businesses.
How do tariffs affect the Canadian dollar?
If demand for Canadian exports drops, the Canadian dollar could weaken, making imports more expensive and reducing economic stability.
Does the U.S. really have a trade deficit with Canada?
Not really. The U.S. only has a trade deficit with Canada because of energy imports. If you exclude energy, the U.S. actually has a trade surplus with Canada in goods and services.
Are counter-tariffs the solution?
Not necessarily. Counter-tariffs are meant to put pressure on the U.S. by making American products more expensive in Canada. However, they can also hurt Canadian consumers and businesses by increasing prices and limiting access to important goods. We must be strategic about how we enact these tariffs and how we reallocate the revenues that we gain through these tariffs.
Do tariffs hurt American businesses too?
Absolutely. Many U.S. businesses rely on Alberta’s energy, agriculture, and manufactured goods. Higher costs for these goods mean U.S. companies and consumers will also pay more.
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