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ENERGY: Trump's Current Positions On Key Nations

ENERGY
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The US/President Trump’s current positions on key nations, including China, Russia and Iran. 

  • China: The US imposed a 10% tariff on all Chinese goods on Tuesday. Beijing retaliated with a 15% tariff on US coal and LNG, plus a 10% tariff on US crude oil and other non-energy related American products. China’s tariffs on the US will come into effect on Monday. A White House official suggested today that a Trump-Xi call still needed to be scheduled.
  • Iran: President Trump is aiming for ‘maximum pressure’ on Iran that could include new sanctions or increased sanctions enforcement aimed at driving Iran’s ‘oil exports to zero’. Trump appears to be aiming to prevent Iran from obtaining a nuclear weapon. An Iranian official indicated that talks with the Trump administration were possible, softening tensions.
  • Russia: In recent weeks, Trump has stressed the importance of high oil prices on Russia’s ability to wage war in Ukraine, calling on OPEC+ to boost output to help bring prices down. “We [Putin & Trump] will be speaking, and I think will perhaps do something that’ll be significant,” Trump said on Friday.
  • EU: Trump has said that the EU could be next to face tariffs, with reports suggesting that a 10% levy could be considered. 
  • Meanwhile, Trump reiterated that the US requires a commitment from BRICS countries that they will not seek to replace the dollar or they will face “100% tariffs”.
  • US tariffs on Mexico and Canada have been postponed to next month following talks. 
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The US/President Trump’s current positions on key nations, including China, Russia and Iran. 

  • China: The US imposed a 10% tariff on all Chinese goods on Tuesday. Beijing retaliated with a 15% tariff on US coal and LNG, plus a 10% tariff on US crude oil and other non-energy related American products. China’s tariffs on the US will come into effect on Monday. A White House official suggested today that a Trump-Xi call still needed to be scheduled.
  • Iran: President Trump is aiming for ‘maximum pressure’ on Iran that could include new sanctions or increased sanctions enforcement aimed at driving Iran’s ‘oil exports to zero’. Trump appears to be aiming to prevent Iran from obtaining a nuclear weapon. An Iranian official indicated that talks with the Trump administration were possible, softening tensions.
  • Russia: In recent weeks, Trump has stressed the importance of high oil prices on Russia’s ability to wage war in Ukraine, calling on OPEC+ to boost output to help bring prices down. “We [Putin & Trump] will be speaking, and I think will perhaps do something that’ll be significant,” Trump said on Friday.
  • EU: Trump has said that the EU could be next to face tariffs, with reports suggesting that a 10% levy could be considered. 
  • Meanwhile, Trump reiterated that the US requires a commitment from BRICS countries that they will not seek to replace the dollar or they will face “100% tariffs”.
  • US tariffs on Mexico and Canada have been postponed to next month following talks.