The Globe and Mail reports in its Thursday, April 10, edition that U.S. President Donald Trump's inconsistent "reciprocal" tariffs on America's trading partners, along with his escalating trade war with China, have caused significant turmoil in global markets. The Globe's Emma Graney writes that this week, oil prices have plummeted to their lowest levels in three and a half years. The looming threat of a global recession has added to the concerns of Canadian energy executives, who are also trying to manage the political landscape ahead of a federal election. Cenovus Energy chief executive officer Jon McKenzie says: "We've all drank the Kool-Aid in terms of underleveraging our balance sheets, making sure our costs are competitive and becoming viable businesses. Do we like the fact we've got $60 (U.S.) oil today? No. Is it something that we can deal with? Yes. And at the end of the day, lower oil prices tend to cure lower oil prices. Longer term, I think people are going to see that this is not anywhere near an existential crisis. This is not a situation that puts companies or balance sheets in jeopardy. This too shall pass."