WATCH: Trudeau ‘raised concerns’ over Keystone XL cancellation, but Biden remains committed to ending project

The president, though, felt the project was not in the United States' best interests, as Psaki said that "the president was clear this is a commitment he made in the campaign"

The Progressive Contractors Association of Canada said the pipeline would have generated as many as 60,000 jobs in Canada and the US.

In 2020, the government of Alberta agreed to invest $1.5 billion of equity into the project, and guaranteed billions more in loans. The Canadian section of the pipeline in Alberta has been under construction for several months and employs approximately 1,000 workers. Construction had already begun on the US section of the pipeline as well. The 1,700-mile pipeline, originally proposed in 2008, would carry approximately 800,000 barrels of oil a day from Alberta to Texas.

Upon the pipeline's cancellation, Trudeau released a statement saying he was looking forward to "working with President Biden to reduce pollution, combat climate change."

Trudeau welcomed other executive orders made by Biden, including his decision to have the US abide by the Paris Climate Accord. However, Trudeau said he was "disappointed but acknowledge the president's decision to fulfill his election campaign promise on Keystone XL."