The recent collapse in trade talks between the U.S. and Canada could result in dire energy-related consequences if cooler heads to not prevail.

“Canada will match those tariffs dollar for dollar to protect our workers and businesses,” Prime Minister Mark Carney said in a statement.

President Trump said Tuesday the two sides had a deal in place.

US-Canada trade tensions have escalated after US President Donald Trump imposed 50% tariffs on Canadian imports following failed negotiations. From the USMCA review and…