Tariffs on imports mean higher costs for finishing fuels, much of which is likely to be passed on to consumersUS consumers will see higher prices at the gas pump from Donald Trump’s decision on Saturday to apply tariffs on Canadian and Mexican oil, according to analysts and fuel traders.The likely hike in fuel prices reflects the double-edged nature of Trump’s trade protections, which are designed to bolster domestic business and pressure US neighbors to curb illegal immigration and drug smuggling, but which will also run counter to his promises to tackle inflation. Continue reading…
Source link : https://www.theguardian.com/business/2025/feb/01/us-gas-prices-trump-tariffs
Author : Reuters
Publish date : 2025-02-02 01:16:00
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US gas prices likely to go up with Trump tariffs on Canadian and Mexican oil
