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
Also in this section
25 July 2025
Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
