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U.S.-Canada Energy Tariff Impact

This is a U.S. news story, published by calgaryherald, that relates primarily to Goldman Sachs news.

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calgaryherald

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Business

Business & Economics

Varcoe: Canadian oil producers face $7B hit from Trump energy tariffs — but U.S. consumers would see $22B wallop, study finds

calgaryherald
Summary
Nutrition label

70% Informative

Goldman Sachs report estimates how large losses would be for companies and consumers on both sides of the border.

For Canadian oil producers, a 10 per cent U.S. tariff on energy would represent a nearly US$7-billion hit to their profit margins.

For American consumers, the potential wallop to their pocketbooks is even larger: $22 billion .

However, oil tariffs would generate an estimated $20 billion of revenue for the government annually .

Canadian producers facing tariffs would “take some of this on the chin” but part of the costs would also be passed through to U.S. consumers.

If Canada didn’t retaliate with counter-tariffs, the levy could amount to an increase in pump prices of 10 to 25 cents a gallon in some regions.

VR Score

77

Informative language

78

Neutral language

34

Article tone

semi-formal

Language

English

Language complexity

52

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

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not detected

Time-value

short-lived

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