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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.
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, 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.
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.
By Shariq Khan. NEW YORK (Reuters) - 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 ...
Trump said the tariffs would be imposed due to Chinese theft of U.S. intellectual property. [126] Trump said his planned tariffs on Chinese imports would make the United States "a much stronger, much richer nation". [127] However, the steps toward imposing the tariffs led to increased concerns of a global trade war. [126]
Actual impacts on the economy may be more mixed. The Congressional Budget Office said last month that Trump’s tariffs would lift prices by 1% in 2026. But after that, they “would not have ...
Trump’s executive order included a retaliation clause that would lift tariffs in case of a tit-for-tat response from each country. Over the weekend, Canada and Mexico’s leaders were preparing ...