Canada announced plans to build a major oil pipeline to boost sales to Asia and massively increase oil and gas production, in an attempt to reduce reliance on the US and become an “energy superpower.”
The country sells nearly all its oil to the US, but the White House has threatened 100% tariffs on imports; Canadian Prime Minister Mark Carney has pledged to double non-US trade to hedge against further disruption.
Canada is not alone in trying to insulate itself from US unpredictability: The two major Asian trade blocs, CPTPP and RCEP, have seen several new applications, including from Middle Eastern and Latin American countries, as they scramble to find more reliable markets with Washington causing chaos, Nikkei reported.
