Alberta Premier Danielle Smith said the oil-producing region could look beyond the U.S. for customers if Trump's tariff threats create uncertainty.

President Trump has escalated tensions with Canada by threating to impose significant tariffs on imports like dairy and lumber. In retaliation, Canada has announced its own tariffs on U.S. goods. The situation is now further complicated by political developments in Canada where they’ve elected a new prime minister.

On the very day he was inaugurated, Trump announced plans to impose 25% tariffs on Mexico and Canada. First, they were postponed for 30 days. Then, they went into effect on March 4, only for Trump to decide a couple of days later to halt tariffs on many imports from Canada and Mexico for one month.