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Oil and gas prices jumped on Monday after Trump imposed tariffs over the weekend. The tariffs, which will take effect on Feb. 4, include a 25% levy on most goods from Mexico and Canada, with a 10% ...
Shortly after the tariffs went into effect, China's finance ministry announced it would start imposing targeted tariffs of 15% for U.S. coal and 10% for crude oil, farm equipment and some cars.
Trump also mentioned his intent to impose tariffs on Canada and Mexico starting Feb. 1, sparking concerns of a trade war that could impact economic growth and, as a result, oil consumption.
The AFL–CIO, the largest labor union in the U.S., praised Trump for the tariffs, as did Democratic Ohio Senator Sherrod Brown, who said the action would be a boon for "steel plants across Ohio". Many congressional Republicans expressed fear that the tariffs might damage the economy or lead to retaliatory tariffs from other countries.
This time, by contrast, the tariffs are across the board – although the tariffs Trump had planned and then paused would have limited the levy on Canadian energy to 10%, showing that he was ...
A flurry of executive actions and announcements helped lift the S&P 500 ... inflationary impact of Trump's tariff plan for months. ... ," lowering guardrails to increase fracking and oil ...
Under Mr Trump’s plans, there will be an additional 25 per cent tariff on imports from Canada, with a lower 10 per cent levy on oil, natural gas, electricity and other energy products.
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 ...