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
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