Trump tariffs could upend oil flows
Potential tariff hikes against Canada and Mexico may hurt US refiners and change supply dynamics in global oil trade reshuffle
US President-elect Donald Trump has indicated a potential imposition of a 25% tariff on all imports from Canada and Mexico upon taking office, associating this measure with the rising influx of narcotics and migrants. Amid the outcry from the two US neighbours, Trump will be listening to the concerns from closer to home: US refiners and the oil-dependent industries. Present trade relationships are governed by the US-Mexico-Canada Agreement, which replaced the North American Free Trade Agreement. As the tariff proposal was disclosed approximately two months before its implementation, both governments will have the opportunity to respond and potentially engage in negotiations for an alternativ
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
