EDITORIAL: Hold the applause until we see the fine print
· Toronto Sun
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The good news is an 11th-hour stay of execution appears to have been hammered out between the U.S. and Canada to avert the 50% tariffs President Donald Trump had threatened to impose without a deal.
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The bad news is that we haven’t seen the fine print yet. As usual, we’re getting most of our hard news from American sources.
“I have paused the 50% tariffs against Canada, that were scheduled to kick in tomorrow morning for a three-day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL! The great Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the grave!” Trump said in a post Tuesday.
The cryptic reference to the possible resurrection of the on-again, off-again and now apparently on-again Keystone project should be welcomed in this country. The project would have taken 830,000 barrels of crude oil daily from Alberta to the U.S. Gulf Coast. In his first act after being sworn in, then-U.S. President Joe Biden cancelled Keystone’s permits, effectively killing Keystone. Restoring it will boost Alberta’s economy and strike a blow against the separatist movement in that province. But Canada needs guarantees that it will be finished no matter who is president south of the border.
The world is presently held hostage by Iran and the hold it has over the Strait of Hormuz. Opening up Keystone would ease that stranglehold. The original plan was to have Keystone completed to the Gulf Coast by 2014. Instead, the world is held hostage by a state sponsor of terror that murders its own citizens.
The bad news is that details coming from the Canadian side are sketchy. The devil, as they say, is in the details. What did Prime Minister Mark Carney concede? Will this be akin to the debacle around the Gordie Howe bridge? Carney first said that under the deal hammered out to open the bridge, tolls would be split 50-50 with the U.S. once Canada had recouped $6.8 billion in construction costs. It turned out the deal didn’t mention debt repayment.
Before we pop the Canadian sparkling wine corks, we need the truth, the whole truth and nothing but the truth about this latest pact.