Trump's protectionism spooks energy industry
Steel tariffs could slow booming pipeline and downstream infrastructure construction and feed producer inflation
America's oil and gas industry is steeling itself for Trump's tariffs. The White House has kept details of the new taxes close to the vest, but signs so far point to a 25% tariff on imported steel and 10% on aluminum starting next week. Carve outs could be made in the final ruling that lessens the fallout, but if the blanket tariffs go ahead it will hit the energy business particularly hard. Pipelines are the most obvious place to start. America's network of oil and gas pipelines is growing quickly to accommodate booming domestic production, especially as new centres of production have to be connected to markets. Over the next few years, for instance, major new pipelines are needed around th
Also in this section
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation
