13:28:54 EDT Wed 16 Jul 2025
Enter Symbol
or Name
USA
CA



Cenovus Energy Inc
Symbol CVE
Shares Issued 1,825,252,181
Close 2025-01-03 C$ 22.15
Market Cap C$ 40,429,335,809
Recent Sedar Documents

Globe says Trump tax will hurt more than MEG, rivals

2025-01-03 06:45 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Friday, Jan. 3, edition that Donald Trump has been joking on social media that Canada should become the 51st state. A Globe editorial says this humour seems to amuse only Mr. Trump and his close associates, and serious individuals should simply ignore it. Focusing on the president-elect's comments distracts from the real issue: Mr. Trump's threat to impose a 25-per-cent tariff on all imports from Canada and Mexico unless border security improves. The Globe recommends we flood the United States with the message that Mr. Trump wants to impose a massive tax on American companies that will cause prices to soar in the U.S. and create a new round of inflation. Canada should make sure every American knows this harmful measure by its name -- the Trump tax. The proposed tariffs would impose a 25-per-cent tax on crude oil and petroleum imported from Canada, which supplies about 60 per cent of U.S. crude oil and 53 per cent of gas. Many U.S. refineries are optimized for Alberta's heavy crude, making it difficult to switch suppliers. This tax would ultimately increase consumer prices at the pump. The Trump tax will make life harder, and U.S. consumers need to hear that.

© 2025 Canjex Publishing Ltd. All rights reserved.