Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeOil & GasNewsCarney rejects idea of using oil as weapon against U.S. tariffsSome provincial officials have pointed out that Canada is by far America’s largest foreign source of oilAuthor of the article:Last updated 2 hours ago You can save this article by registering for free here. Or sign-in if you have an account.Mark Carney has said his government’s primary aim is to reach a comprehensive agreement with the U.S. that benefits both countries. Photo by Brent Calver/PostmediaPrime Minister Mark Carney rejected the notion that Canada should curb the supply of vital resources to the United States to retaliate against tariffs, arguing that it’s more important for the country to keep its reputation as a dependable producer.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an Accountor“Being a reliable supplier is important,” Carney told reporters Wednesday in response to a question about the trade war. “People trust us. And so when you’re a supplier of a key commodity, key service, you’ve got to think really hard about not supplying.”Under former Prime Minister Justin Trudeau, Canadian officials examined the possibility of using export taxes on key commodities such as oil, uranium and potash to drive up U.S. costs in response to President Donald Trump’s trade policy.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againSome provincial officials have pointed out that Canada is by far America’s largest foreign source of oil, making fuel a potential point of leverage in contentious trade negotiations.Tensions between the U.S. and Canada ratcheted up again this month when Trump threatened to slap 50 per cent import taxes on a range of Canadian-made goods if Carney’s government fails to address American trade complaints about autos, alcohol and dairy.But Carney, who was visiting Canada’s oil heartland of Alberta, appeared to rule out any use of export curbs or taxes on key resources.“I don’t see the value of it,” he said when asked about using oil as retaliation, stressing that Canada is known as a “reliable” oil producer. “There’s other things we can do if we need it, to address the situation,” he said.The latest threat from Trump and his officials would see new tariffs on products such as milk, hockey equipment, beer and plywood — but not on commodities like oil and potash that the U.S. buys from Canada in large quantities.Canadian trade officials are in Washington this week to hold talks with their U.S. counterparts, and Carney has said his government’s primary aim is to reach a comprehensive agreement that benefits both countries.But he’s also said “all options” are on the table for Canada’s response if the White House goes ahead with more levies, a comment that appeared to open the door to retaliatory measures.Trump has set a deadline of Aug. 19 before the new tariffs would kick in. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.