"The prospect of added costs on products has big implications for businesses and consumers across the energy landscape — including at the gasoline pump."
"President-elect Donald Trump’s pledge to slap new tariffs on goods from Canada, Mexico and China could inflate the cost of producing and buying energy in almost all forms, possibly sending gasoline prices surging and the U.S. energy industry into a tailspin.
Trump did not outline any exemptions — including for oil and gas — in his Monday announcement of a planned 25 percent tariff on products from Canada and Mexico. He cited concerns about drugs and crime tied to illegal immigration, which he said those countries must address.
The former president went after China in a separate post on Truth Social, saying he would plan an “additional” 10 percent tariff on goods from that country because it has not stopped the flow of drugs into the United States. While it’s unclear whether the tariffs will actually be imposed or at what percentages, the uncertainty has already raised the hackles of some in the energy industry, according to Patrick De Haan, head of petroleum analysis at GasBuddy."
Shelby Webb, David Ferris, Jason Plautz, and Brian Dabbs report for E&E News November 27, 2024.
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