Trump floats 'concept' of US-Canada deal that includes pipeline, talks to Carney
SPY•Trump said his administration has a concept for a US-Canada trade deal that would include the Keystone XL pipeline. Carney said the leaders had a good conversation and their teams would work in the coming weeks toward an outcome.
1. Trade deal concept
Trump said his administration has a concept for a new trade deal with Canada, while Prime Minister Mark Carney said their conversation built on constructive discussions about a mutually beneficial agreement. Carney said teams would work in the coming weeks toward an outcome.
2. Keystone XL included
Trump said the deal would include the Keystone XL pipeline, adding that Canada would pay for it and the US would provide a route. It was not immediately clear how the project, whose key permit was revoked in 2021, would be revived. The proposed pipeline would have carried 830,000 barrels of oil per day from northern Alberta to Oklahoma and Gulf Coast refineries.
3. Other pipeline proposal
TC Energy spun off its crude pipelines business into South Bow after Keystone XL was canceled. South Bow has proposed the 550,000-barrel-per-day Prairie Connector project with US partner Bridger Pipeline, using some Keystone XL pipe installed in Canada; South Bow has said it will decide whether to proceed in 2027. Canada sends more than 90% of its crude oil production to the US.
