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“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.
When Trump initially floated the 25% tariffs in November, Patrick De Haan, head of petroleum analysis at GasBuddy, estimated it would hike the cost of gas for Americans by between 25 cents and 75 ...
Trump vowed that he would enact a 25 percent tariff on products from Canada and Mexico, and a 10-percent tariff on Chinese made goods — acts that would likely raise the prices of everything from ...
U.S. President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States. China's government and companies in China do not pay tariffs directly.
The consensus among economists is that the costs fall mostly to consumers.
And higher gas prices will make it more expensive to move goods around the country.
The premier of Canada's oil-rich province of Alberta said on Thursday that Americans will pay a lot more for gas if President-elect Donald Trump imposes a 25% tariff on all Canadian products.
The Trump tariff plan is an extreme exercise in self-inflicted economic damage, magnifying the harm from Trump’s earlier tariffs across thousands of traded goods and all U.S. trading partners.