Search results
Results From The WOW.Com Content Network
The tariffs on the two biggest sources of U.S. crude imports will raise costs for the heavier crude grades U.S. refineries need for optimum production, industry sources said, cutting their ...
However, there is empirical evidence showing that the 2018 tariffs on steel and aluminum did raise prices, Won Sohn said, noting a 2020 Federal Reserve study that found an increase in producer ...
U.S. consumers will see higher prices at the gas pump from President Donald Trump's decision on Saturday to apply tariffs on Canadian and Mexican oil, according to analysts and fuel traders. The ...
How do tariffs affect the economy? The tariffs, meanwhile, also would lower economic growth by a hefty 1.2 percentage points this year, from 2.6% to 1.4%, Sweet estimated.
That seasonal price impact could add another 30 cents per gallon, putting the total increase in gasoline prices at $1 per gallon if the tariffs remain in place at the onset of spring, Fitzgerald said.
The price increases come from the fact that importers — China, for example — often respond to tariffs by increasing the price of their imports to help offset the new tax.
Trump said that on his first day in office, he would place 25 percent tariffs on all Canadian and Mexican goods. The two countries are the leading sources of U.S. oil imports.
Since winning the election, Trump has promised to put a new 25% tariff on all products coming from Mexico and Canada, as well as raise tariffs on Chinese-made goods by 10%, on the first day of his ...