Carney rejects using oil exports as leverage in US trade war

Canadian Prime Minister Mark Carney has ruled out using oil exports as a bargaining chip in the ongoing trade war with the United States. In statements made on July 29, 2026, Carney dismissed the idea of curbing Canadian oil supplies to retaliate against U.S. tariffs, saying he sees no value in using energy as a weapon. Meanwhile, Cenovus's chief executive said pipeline plans make Canada's oilpatch ripe for major investment, suggesting the industry remains attractive despite trade tensions. The headlines also note that U.S. tariffs are affecting other Canadian sectors, such as distillers and whey protein producers, but the main focus is on Carney's stance on oil.