(Reuters) -U.S. President-elect Donald Trump's plan to impose 25% tariffs on Canadian and Mexican imports in his first day in office does not exempt crude oil from the trade penalties, two sources familiar with the plan told Reuters on Tuesday. Trump's tariff threats are broad and include oil imports, the two sources said, both adding that Trump often takes an aggressive posture at the beginning of negotiations. The U.S. refining industry was hoping Trump would exempt oil imports over concerns that they would lead to the type of energy price spikes the former president vowed to eliminate when he took the White House.
The environmentalist in me is rather happy to hear this. Frankly, 25% is too low. Trump may be crazy, but if his trade war(s) mean higher prices on fuel for the biggest driver of climate change on the planet, I’ll take it
This will make oil in the USA even more expensive, making alternate yet energy more attractive, and hopefully push us over peak oil. Assuming the USA has a domestic wind/solar industry…
The environmentalist in me is rather happy to hear this. Frankly, 25% is too low. Trump may be crazy, but if his trade war(s) mean higher prices on fuel for the biggest driver of climate change on the planet, I’ll take it
This will make oil in the USA even more expensive, making alternate yet energy more attractive, and hopefully push us over peak oil. Assuming the USA has a domestic wind/solar industry…
I think he’s just going to go to Russia for the fuel.