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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% ...
Tariffs act much like a sales tax, say economists, so that Americans end up paying higher prices if they want to continue purchasing imported goods from countries subject to the tariff. The U.S ...
Trump's originally proposed 10% tariff on Canadian oil, which Skordeles said equates to a roughly 16 cent increase per gallon, could eventually raise the price of almost everything as companies ...
President Trump’s tariff on Canadian oil is expected to raise prices at the pump for U.S. consumers, if it takes effect as planned after a 30-day delay. Analysts told The Hill that the 10 ...
Gas, food and alcohol prices would also rise if Trump imposed Canadian and Mexican tariffs. Sneaker prices would rise if Trump raised tariffs on China: About 99% of shoes sold in the United States ...
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.
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.
“If Trump does move ahead with tariffs, it would essentially boost the price of oil that these refineries are paying by 25%, which in this case today, would amount to about $15 a barrel,” he said.