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Toronto Star
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Premiers Smith, Moe disappointed by Trump's tariffs but most exports remain duty-free
REGINA - The premiers of Alberta and Saskatchewan say they're disappointed by higher tariffs from U.S. President Donald Trump but pleased the majority of their exports won't face duties. Saskatchewan Premier Scott Moe says the Canada-United States-Mexico trade agreement remains in place, allowing 95 per cent of his province's exports to move into the United States tariff-free.
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Imperial Oil reports $949M profit in second quarter
The Imperial Oil logo is shown at the company's annual meeting in Calgary on April 28, 2017. THE CANADIAN PRESS/Jeff McIntosh CALGARY — Imperial Oil Ltd. says its net income came in at $949 million during the second quarter, down from $1.13 billion a year earlier. Earnings per share amounted to $1.86 on a diluted basis, compared with $2.11 during the same period last year. The Calgary-based energy company reported $11.23 billion in total revenue and other income during the quarter, down from $13.38 billion during the same quarter last year. The company says upstream production reached 427,000 gross oil-equivalent barrels per day, marking the highest second quarter in over 30 years. Refinery throughput averaged 376,000 barrels per day during the quarter, compared with 387,000 barrels per day a year earlier. Imperial Oil CEO John Whelan says the company completed its heaviest planned turnaround quarter for both its upstream and downstream businesses. This report by The Canadian Press was first published Aug. 1, 2025. Companies in this story: (TSX:IMO) The Canadian Press
CTV News
2 minutes ago
- CTV News
Canada should refrain from any retaliatory measures: Sask. Premier Moe on U.S. tariffs hike
Premier of Saskatchewan Scott Moe speaks to media following the First Minister's Meeting in Saskatoon, Sask., Monday, June 2, 2025. THE CANADIAN PRESS/Liam Richards Saskatchewan Premier Scott Moe says U.S. President Donald Trump's new 35 per cent tariffs are disappointing and that Canada should refrain from any retaliatory measures that would cause harm to Canada's economy. However, he says that efforts remain in effect to ensure the Canada-U.S.-Mexico trade agreement (CUSMA) remains in effect. 'While Saskatchewan is disappointed in the Trump administration's decision to increase tariffs on non-CUSMA compliant Canadian goods to 35 per cent, Canada's efforts to ensure CUSMA remains in effect means that 95 per cent of Saskatchewan exports to the U.S. will remain tariff-free,' he said in a statement. Moe says CUSMA remaining in effect is very significant given the U.S. has imposed across-the-board tariffs on many countries. Trump signed an executive order activating tariffs against 68 countries and the European Union Thursday evening. New tariffs of 35 per cent on Canadian exports, effective Friday, exclude products under CUSMA, the White House has said. Moe says Canadian exports that remain tariff-free now have a competitive advantage relative to other countries facing tariffs on the same products. 'Our government will continue to engage with U.S. businesses and lawmakers to improve our trade relationship while continuing to expand our export markets to over 160 countries around the world that buy Saskatchewan products,' he said. He says Saskatchewan will also continue to press the federal government to adopt the 'Strong Saskatchewan, Strong Canada Plan' to approve economic infrastructure projects and eliminate regulations hindering economic development. Moe is expected to speak to reporters on Friday at 12 p.m., which can be livestreamed at the top of this article. -More to come…
