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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% ...
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.
(Trump's original executive orders issuing the tariffs carved out an exception for Canadian energy including natural gas and oil, which would have been met with a lower rate of 10%.)
A Trump administration official told reporters on Saturday that a lower tariff on energy was done to spare Americans from from having to pay even more for gasoline and heating oil, even though ...
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 ...
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.
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.
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 ...