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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 market anxiety ahead of Donald Trump's tariffs deadline focused Friday on oil and gas after the president acknowledged there could be issues including the energy staple in his overall plans.
Trump announced Friday he would impose a 25% tariff on imports from Mexico, diverting from a free-trade agreement he signed in his first term that was not up for renegotiation until 2026.
The tariffs, which will take effect on Feb. 4, include a 25% levy on most goods from Mexico and Canada, with a 10% tariff on energy imports from Canada, and a 10% tariff on Chinese imports.
President Donald Trump flipped the script on one of the market's biggest worries about his presidency this week — his plan to levy steep tariffs on imports— and it's sent stocks climbing to ...
LONDON/NEW YORK (Reuters) -The dollar extended its slide while crude prices curtailed their losses after U.S. President Donald Trump said on Monday he would tariff and tax countries to enrich ...
The tariffs, if sustained, could cause inflation to significantly worsen, threatening the trust that many voters placed in Trump to lower the prices of groceries, gasoline, housing, autos and other goods as he promised. They also risked throwing the global economy and Trump’s political mandate into turmoil just two weeks into his second term.
Trump promised tariffs on chips, and said oil and gas tariffs are likely by Feb 18. The White House said Trump on Saturday will implement tariffs of 25% on Canadian and Mexican imports and 10% on ...