For North American companies, the “wait and see” moment on tariffs is over. U.S. President Donald Trump imposed a 25% levy on goods from Canada and Mexico, along with a 10% tariff on China, in what could be the opening stages of a full-scale trade war likely to create new headaches for executives that have …
North American Companies Brace for Fallout From Trump Tariffs Read More »
Bank CEOs speak with policymakers as trade battle begins People circulate ‘Buy Canada’ lists; hockey fans boo US anthem Canadian government officials and business leaders mounted a crisis response that drew parallels with the Covid pandemic after President Donald Trump signed an order to put 25% tariffs on almost everything the US buys from Canada. Officials arranged …
Trump’s ‘Tariff Thrashing’ Spurs Crisis Response From Canada Read More »
After weeks of threats, a North American trade war has erupted. Businesses and investors are bracing for the fallout. Donald Trump’s move to invoke an emergency and impose tariffs on Canada, Mexico and China is the most extensive act of protectionism taken by a US president in almost a century. In what may be the …
How Trump’s Tariffs Aim a Wrecking Ball at the Economy of America’s Allies Read More »
Trump’s move has sparked volatility in the commodities market. Oil prices rose, with WTI up 2.4% at $74.27 a barrel and Brent crude futures adding 1% to $76.40 a barrel.
Oil prices rose, with WTI up 2.4% at $74.27 a barrel and Brent crude futures adding 1% to $76.40 a barrel.
Summary • Trump orders 10% tariffs on Canadian oil, 25% tariffs on Mexican crude • U.S. refineries face higher costs for heavier crude grades • U.S. refinery earnings already under pressure (Reuters) – U.S. President Donald Trump’s trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against …
Trump’s Oil Tariffs a Boost for European and Asian Refiners Read More »
Summary • Canada and Mexico slapped with 25% duties; China gets 10% above current tariffs • Trump wants action on stanching flow of fentanyl and migrants to the US • Canadian oil will be taxed at 10%, more oil and gas tariffs expected in mid-February • Canada, Mexico vow retaliatory tariffs, China says it will …
Trump Launches Trade War With Tariffs Against Canada, Mexico and China Read More »
Summary • Energy imports from Canada will have 10% duty, Mexican energy tariffs to be 25% • Tariffs mean higher costs for finished fuels like gasoline • US East Coast may have to turn to European fuel imports (Reuters) – U.S. consumers will see higher prices at the gas pump from President Donald Trump’s decision …
Pump Prices Set to Rise as Trump Tariffs Hit Closest Allies, Canadian, Mexican Oil Read More »
Summary • All 6 regional grid operators to miss July deadline to upgrade equipment • Delays could extend 1-2 years past deadline • Grid operators cite complexity of project, lack of software vendors (Reuters) – U.S. grid operators are asking regulators for more time to meet a federal order to upgrade existing transmission lines with …
Power-Boosting Project for US Grid to Miss July Deadline Read More »
Summary • Oil executives offer little optimism that refining business will improve in 2025 • Exxon, Chevron Q4 profits hurt by weak refining sector • Independent refiners face challenges as fuel demand falters in US and China Big Oil executives this week saw little prospect of a near-term improvement in refinery profits after Chevron, Exxon …
Big Oil Bleak on Refining Profits Going into 2025 Read More »
