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ENERGY: Trump Tariffs Threaten Energy Trade

ENERGY
Energy BulletsBulletPower BulletsCommodities

U.S. President Donald Trump threatened tariffs on the European Union and China on Tuesday, causing further uncertainty for markets as they asses potential Canada/Mexico tariffs.

  • "The European Union is very, very bad to us," he said, repeating comments made Monday. "So they're going to be in for tariffs. It's the only way ... you're going to get fairness."
  • China, Mexico, Canada are in the firing line for Feb 1 duties which has caused a flood of Canadian oil to head to the U.S.
  • “We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump said.
  • Mexico and Canada rates have been threatened as high at 25%.
  • Trump aggressively targeted China during his first term over trade.
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U.S. President Donald Trump threatened tariffs on the European Union and China on Tuesday, causing further uncertainty for markets as they asses potential Canada/Mexico tariffs.

  • "The European Union is very, very bad to us," he said, repeating comments made Monday. "So they're going to be in for tariffs. It's the only way ... you're going to get fairness."
  • China, Mexico, Canada are in the firing line for Feb 1 duties which has caused a flood of Canadian oil to head to the U.S.
  • “We’re talking about a tariff of 10% on China, based on the fact that they’re sending fentanyl to Mexico and Canada,” Trump said.
  • Mexico and Canada rates have been threatened as high at 25%.
  • Trump aggressively targeted China during his first term over trade.