Varcoe: 'Nobody wins here': Energy in clear, but Alberta businesses will take hits in trade brawl with U.S.
Alberta’s largest export isn’t being targeted in the U.S.-Canada trade war — the $125-billion worth of oil, gas and minerals that head south annually — b ut other businesses are already caught in the crossfire of an escalating fight.
Meeting with some American distributors in St. Louis, Falkbuilt CEO Mogens Smed was trying to figure out what the trade fight would mean for the Calgary-based firm and its clients.
The construction technology company does about 90 per cent of its business in the United States, and uses a lot of steel and aluminum.
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It’s too soon to say precisely how much the tariffs could cost Falkbuilt or its customers, although Smed estimates it could be a $10-million touch tied to steel.
Even though trade talks between the two countries fell apart last Friday and the rhetoric is increasing, he still believes cooler heads must prevail.
From Alberta honey producers to manufacturers and small companies that buy and sell products to and from the United States, business operators are girding for the fallout of the Trump administration imposing 50 per cent tariffs on an array of Canadian products on Saturday.
Prime Minister Mark Carney said the U.S. tried to impose last-minute changes into a trade deal that seemed to be progressing earlier in the week, prompting the end of the negotiations.
Canada will match the American tariffs, “dollar for dollar” by Sept. 8.
On Monday, U.S. President Donald Trump continued his criticism of Canada on social media, claiming that “without the United States, Canada couldn’t survive,” and blasting “Governor Carney and his Flunky,” Ontario Premier Doug Ford.
“Remember, much of the electricity, oil and gas that Canada gets is transported through the U.S.A.,” the president wrote.
“Someone should get these clowns to ‘fall in line,’ or the consequences for Canada will be far WORSE!”
It’s not a shock that Trump would take to social media to toss more verbal grenades, while Ford responded by calling Trump a “loser.”
5News aggregated this summary from the outlet’s public feed. The full article, with all the context, is on calgaryherald.com — the content belongs to Calgary Herald.
