Trump Tariffs Could Hurt Oil Companies and Raise Gas Prices
Some oil refineries will probably struggle to replace imported crude oil if President Trump imposes 25 percent tariffs on products from Canada and Mexico.
Trump promised to lower gas prices. His tariffs could have the opposite effect.
President Donald Trump's plan to slap tariffs on Canada and Mexico as soon as February 1 threatens to undercut one of his key campaign promises: lowering prices at the pump. The US imports around 40% of the crude oil it refines into gas for your car and other vehicles.
US tariff threat limits oil prices
Oil prices slipped for a second day on Thursday after U.S. crude stockpiles rose more than expected, though attention remained on tariffs threatened by U.S. President Donald Trump on Mexico and Canada,
These prices could climb within days if Trump slaps tariffs on Canada and Mexico
The Trump administrations says the tariffs will take effect on Feb. 1. Tariffs on goods from Mexico and Canada that are set to take effect could hike the price of a gallon of gasoline for some drivers by as much as 70 cents and send grocery bills climbing, experts told ABC News.
Trump tariff threats on Canadian oil could impact three US regions, gas analyst says
Patrick De Haan, head of petroleum analysis at GasBuddy, warned Americans in the Midwest, the Rockies and the Great Lakes regions may be most affected by tariffs on Canada.
US tariffs on Canada and Mexico begin Saturday—what it means for gas prices
President Donald Trump’s 25% tariffs on Canada and Mexico begin Saturday, but he hasn’t decided whether to include oil imports— a move that could affect gas prices despite his pledge to cut energy costs.
Oil set for weekly losses as market awaits Trump tariffs
Oil prices were little changed on Friday but on course for weekly declines ahead of U.S. President Donald Trump's Saturday deadline to impose 25% tariffs on Canada and Mexico. Brent crude futures for March,
Oil prices on track for weekly declines as traders await Trump tariff decision
Oil futures ticked lower Friday and were on track for weekly losses as traders awaited a decision by President Donald Trump on tariffs on imports from Canada and Mexico.
Trump says tariffs on Canada and Mexico coming Saturday, and he’s deciding whether to tax their oil
The risk of tariffs on Canadian and Mexican oil could undermine Trump's repeated pledge to lower overall inflation by reducing energy costs.
Trump says Canada, Mexico tariffs on Saturday may not include oil
U.S. President Donald Trump on Thursday said he would soon decide whether to exclude Canadian and Mexican oil imports from the 25% tariffs that he has vowed to impose on Saturday on the countries' products.
Donald Trump says he might exclude oil from tariffs on Canada and Mexico
Donald Trump has said he is considering excluding oil imports from the 25 per cent tariffs he has threatened to impose on Mexico and Canada, in a sign the US president might offer exemptions for crucial industries.
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