Canada's oil windfall may yet wipe out its losses from tariffs

Canada's economy could see a rebound from the economic hit of Trump's tariffs, which cost the country about 0.5% of its GDP, thanks to soaring oil prices that have surged back to over $100 per barrel. The recent instability in the Middle East, particularly with Iran's Houthi allies, has reinforced fears that high oil prices will persist. This windfall in oil revenue could more than offset the losses from the tariffs, signaling a potential economic turnaround for Canada.