finance
Canada Plans Oil Pipeline to Asia to Cut U.S. Reliance
Canada announced plans to build a major oil pipeline aimed at increasing sales to Asia and reducing dependence on the United States. Officials said the project is part of a broader effort to double non-U.S. trade and position the country as an energy superpower.
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Canada announced plans to build a major oil pipeline to increase oil and gas sales to Asia and reduce reliance on the United States. The announcement came on July 3, 2026. Officials described the move as a step toward making Canada an “energy superpower” while shielding exports from potential U.S. tariffs.
Canada currently sells nearly all of its oil to the United States. The White House has threatened 100% tariffs on those imports. Canadian Prime Minister Mark Carney pledged to double non-U.S. trade to hedge against further disruption.
Other countries are also seeking alternatives to U.S. markets.
The CPTPP and RCEP trade blocs have received new applications from Middle Eastern and Latin American nations, Nikkei reported. Officials said the pipeline project would support a large increase in fossil fuel production.
“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.'”
