Impact of President Trump's Tariffs on Canadian and Mexican Oil on U.S. Consumers

SOURCE www.nbcnews.com
U.S. consumers will face higher gas prices due to President Trump's tariffs on Canadian and Mexican oil, impacting the symbiotic oil trade between the U.S. and its neighbors. Refiners are likely to pass on increased costs to consumers.

Key Points

  • U.S. consumers will see higher prices at the gas pump due to tariffs on Canadian and Mexican oil
  • Refiners are likely to pass on the increased costs to consumers
  • The symbiotic oil trade between the U.S. and its neighbors is set to be upended

Cons

  • Higher gas prices for U.S. consumers
  • Disruption of symbiotic oil trade between the U.S. and its neighbors
  • Refiners passing on increased costs to consumers