Trump Tariffs Could Raise Gas Prices By 70 Cents Per Gallon
President Donald Trump has promised, among other things, two big ideas: 25 percent tariffs on imports from Mexico and Canada, and lower gas prices. Unfortunately, it seems like those two may be at odds — new reports say that Trump’s tariffs on crude oil from those two countries could make American gas prices surge by up to 70 cents per gallon in some states.
Trump promised to lower gas prices. His tariffs could have the opposite effect.
One chart shows why US gas prices could spike under Trump's tariff plans.
Trump says he'll impose tariffs on oil and gas imports next month
President Trump on Friday said the U.S. will impose tariffs on oil and gas imports, likely next month, as well as tariffs on CHIP semiconductor technology and pharmaceuticals eventually. "Eventually,
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U.S. President Donald Trump said on Friday he expects his administration to impose tariffs related to oil and gas around Feb. 18. He did not name a specific country to which the tariffs would apply or specify any more details about the plans.
Will Trump’s Tariffs Raise Prices? What To Know As Taxes On Canada And Mexico Imports Expected To Start Saturday
President Donald Trump confirmed Thursday that he’s planning to levy a 25% tariff on imports from Mexico and Canada starting Saturday—with broader import taxes potentially soon following—reflecting his campaign promises to implement high tariffs,
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