Reports from energy companies or government agencies on the impact of restrictions

Ontario Threatens to Cut Energy Exports to U.S. Over Trump's 25% Tariff Threat

Dec 12, 2024, 01:07 PM

Ontario Premier Doug Ford has threatened to cut off energy exports to the United States if President-elect Donald Trump imposes a 25% tariff on all Canadian products. This threat comes in response to Trump's promise to impose tariffs on Canadian imports unless Canada takes stronger action against the flow of migrants and drugs into the U.S. Ford made these comments after a meeting with Canadian Prime Minister Justin Trudeau and other provincial premiers to discuss a coordinated response to the potential tariffs. The proposed retaliatory measures include restricting electricity exports to Michigan, New York State, and Wisconsin, limiting exports of critical minerals, restricting U.S. companies from Ontario's procurement process, and potentially restricting imports of U.S.-made alcohol. The Ford government is reportedly 'deadly serious' about these escalation maneuvers, despite the potential economic cost to Ontario, estimated at $400-$700 million in lost revenue. The energy restriction policy alone could impact 1.5 million American homes, with the economic impact on the U.S. potentially reaching into the billions.