Canada Might Tax Oil, Uranium Heading for US
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Canada is contemplating export taxes on commodities such as uranium, oil, and potash in response to potential broad tariffs by President-elect Donald Trump.
December 13, 2024 | 6:00 pm
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The potential imposition of export taxes by Canada on oil could affect the supply and pricing dynamics in the US oil market, impacting the United States Brent Oil Fund (BNO).
If Canada imposes export taxes on oil, it could lead to reduced supply or increased costs for oil in the US, potentially affecting the price of oil-related ETFs like BNO.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70