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