Alberta, South Korea reach deal to eliminate three per cent tariff on crude exports
Posted Apr 20, 2026 08:28:48 PM.
Last Updated Apr 20, 2026 08:33:06 PM.
EDMONTON — Alberta Premier Danielle Smith has signed a joint statement with South Korea to waive a three per cent tariff on crude exports from the oil-rich province.
The Alberta government says the agreement will open up more market access for energy producers shipping bitumen from Canada.
It says Alberta exported almost $400 million in crude oil to South Korea last year, but with tariffs removed, that number could grow to between $400 million and $1 billion annually.
Smith has stated her goal is to double oil and gas production in the province by 2035, and she wants to see more pipeline capacity to make it happen.
Expanded pipeline access to the B.C. coast meant crude shipments to South Korea went up more than 500 per cent year over year, according to the province.
Alberta estimates that trade between it and South Korea amounted to $1.8 billion last year.
This report by The Canadian Press was first published April 20, 2026.
The Canadian Press
