Trump's tariffs to have limited impact on oil, gas prices, Goldman Sachs says
The new tariffs imposed by U.S. President Donald Trump on imports from Canada, Mexico, and China are likely to have a limited near-term impact on global oil and gas prices, Goldman Sachs said in a note on Sunday.
Gas, grocery prices likely to surge when Trump’s tariffs take effect Feb. 1
The Trump administration will impose 25% tariffs against neighboring countries Canada and Mexico beginning Saturday, the White House confirmed Friday.
Gas prices set to rise as Trump tariffs hit Canadian, Mexican oil
Tariffs on oil imports mean higher costs for making finished fuels like gasoline, much of which is likely to be passed along to U.S. consumers.
Trump promised to lower gas prices. His tariffs could have the opposite effect.
One chart shows why US gas prices could spike under Trump's tariff plans.
Trump says he'll impose tariffs on oil and gas imports next month, and eventually on pharmaceuticals
President Trump on Friday said the U.S. will impose tariffs on oil and gas imports, likely next month, as well as tariffs on CHIP semiconductor technology and pharmaceuticals eventually. "Eventually, we're going to put tariffs on CHIPS," the president told reporters in the Oval Office on Friday. We're going to put tariffs on oil and gas."
Trump tariff threats on Canadian oil could impact three US regions, gas analyst says
Patrick De Haan, head of petroleum analysis at GasBuddy, warned Americans in the Midwest, the Rockies and the Great Lakes regions may be most affected by tariffs on Canada.
Trump says he is planning oil and gas tariffs around Feb. 18
U.S. President Donald Trump said on Friday he expects his administration to impose tariffs related to oil and gas around Feb. 18 and it could lower levies on some Canadian crude. He did not name a specific country to which the new tariffs would apply or specify any more details about the plans.
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