When President-elect Donald Trump recently floated the idea of annexing Canada, a key reason he gave was a claim that the United States was “losing $200 billion a year” to its northern neighbor.

Trudeau blasted Smith, reminding her that the federal government bought the Trans Mountain pipeline, which now has a C$34.5 billion price tag, giving Alberta its only route to export oil from Canada’s Pacific coast.

President-elect Donald Trump's threatened tariffs could prompt Canada to pursue dollar-to-dollar retaliation or an export tax on oil and gas bound for the U.S.