How oil emerged as a central sticking point in the Trump tariff talks
Published On Jan 31, 2025, 2:21 PM
The article discusses the potential impact of President Trump's tariff talks on the oil market, particularly regarding Canada, which is a major exporter of oil to the U.S. The uncertainty about whether oil will be included in the tariffs has created market anxiety, as it could destabilize both the U.S. and Canadian economies. Trump's comments indicated a possibility of exempting oil from the tariffs, given its importance in energy supply and the economic considerations surrounding gasoline prices for American voters.
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Including oil in tariffs could lead to significant volatility in prices and supply chains, as the U.S. relies heavily on Canadian heavy crude oil for its refineries. If Trump decides not to impose tariffs on oil, it may stabilize the market, while tariffs could lead to higher energy prices and economic instability.
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