The industry was already struggling with rising costs, market saturation, and declining demand, and the constant sense of uncertainty over tariffs only adds to the stress.
With Canada supplying a significant portion of the electricity, refined petroleum, and natural gas used in New England, many experts agree that consumers will likely bear the brunt of Trump’s tariff.
Businesses and consumers across New England rely heavily on Canadian imports, raising fears about the trickle down costs of President Trump’s imposition of a 25% tariff. In Massachusetts, Canadian imports were valued at around $10.
Ontario’s leader said he will add a 25% export tax on electricity sent to New York and other states in retaliation for Trump’s tariffs. Ontario provides 2,500 of the 4,600 megawatts of capacity that New York draws upon from Canada, the NYISO reports.