Canada’s top export to the United States is energy products, mostly oil and gas. Almost all of the crude oil that Canada exports goes to the U.S., and most of it comes from Alberta. Alberta exports about 80 per cent of the crude oil it produces.

Trump pledged in his inaugural address that tariffs would be coming in a speech in which he promised a golden era for America. He later said Canada and Mexico could be hit with the tariffs as soon as Feb. 1, though he signed an executive order requesting a report coordinated by the Secretary of Commerce by April. 1.

There is an Alberta-sized hole in Canada’s plan to fight President-elect Donald Trump’s tariff threat. After a chaotic couple of weeks, the premiers emerged all-for-one from a day-long meeting with the Prime Minister Justin Trudeau on Wednesday — all except Premier Danielle Smith,

Canadian oil and gas stocks fell the most this year, even as US producers rallied, after Alberta’s premier warned that the incoming Trump administration is likely to put tariffs on oil and gas imports.