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Tariffs are a tax imposed on goods that the U.S. imports from other nations. President-elect Donald Trump has shown a penchant for tariffs in his economic policy agenda. In his first term, he ...
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 tariffs could also face legal challenges due to their potential violations of the US-Mexico-Canada agreement, a free-trade agreement negotiated by Trump in his first term that went into ...
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.
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.
“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.
President-elect Donald Trump's promise to levy strict tariffs -- essentially, taxes and trade penalties -- upon America's trade partners has made many economists, as well as everyday Americans, a...
TARIFFS. Trump's promise to impose sweeping tariffs on U.S. imports from just about everywhere - including Canadian crude oil and refined fuel, and solar and electric vehicle battery parts - could ...