CBC: A $20 increase in the price of crude would likely add about $12 billion to $24 billion to the Canadian economy.
U.S. tariffs affect about $28 billion worth of goods, so at first glance the oil windfall appears inadequate to compensate for tariff losses. But some tariffed goods will continue to trade, because U.S. buyers need them and lack alternatives. Other goods will find different markets, either in Canada or abroad.
Most analysts estimate the cost to Canada’s GDP of all tariffs to be somewhere between 0.3 per cent and 0.6 per cent, or $10 billion to $20 billion per year…