From Reuters HOUSTON (Reuters) – U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world’s biggest buyer of U.S. energy products. Mexico sends 600,000 to 700,000 barrels of oil to the United States
From Bloomberg Supply and demand both falling quickly, says BofA’s Blanch, Energy investors beat sector ‘to death’: RBC Capital Markets Oil flirted with bear-market territory as Saudi Arabia insisted OPEC will avert a global supply glut after international trade brinkmanship triggered the steepest monthly slump this year. Futures gained as much as 2.1% in New York on Monday before surrendering
From AJOT/Bloomberg The Trump administration is proposing tariffs on goods from countries found to have undervalued currencies, in a move that would further escalate its assault on global trading rules. The proposal, laid out in a Federal Register notice released on Thursday, would let U.S.-based companies seek anti-subsidy tariffs on products from countries found by the U.S. Treasury Department to
From Reuters LONDON (Reuters) – Oil prices fell on Monday after U.S. President Donald Trump said he would sharply raise tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (WTI) crude futures were at $61.68 per barrel at 1338 GMT, down 26 cents. WTI hit $60.04 earlier
Australian LNG producers could win from the US-China trade war From the Australian Financial Review China’s threatened tariffs on US liquefied natural gas imports could help Woodside Petroleum, Santos and Oil Search get more than $US25 billion of LNG projects over the line as the world’s fastest growing importer looks elsewhere for supplies to meet surging demand for cleaner fuel. All three companies
From Reuters Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals. The specter of tariffs on a further $200 billion of Chinese goods sent commodities lower along with stock markets, as tension between the world’s
From Reuters China’s omission of liquefied natural gas (LNG) from its vast list of U.S. products that face hefty import duties from Friday has preserved a potential weapon should the trade war with Washington deepen. It also underscores Beijing’s desire to ensure supplies of gas as it pushes to switch millions of households and businesses away from using coal as
From Reuters U.S. President Donald Trump announced hefty tariffs on $50 billion of Chinese imports on Friday as Beijing threatened to respond in kind, in a move that looks set to ignite a trade war between the world’s two largest economies. Trump, whose hard-line stance on trade has led him to wrangle with allies, said in a statement that a
From Reuters Europe will implement counter-measures against U.S. tariffs on steel and aluminum just like Canada, German Chancellor Angela Merkel said on Sunday, voicing regret about President Donald Trump’s abrupt decision to withdraw support for a G7 communique. Trump’s announcement on Twitter, after leaving the Group of Seven summit in Canada early, that he was backing out of the joint
From Reuters Mexico put tariffs on American products ranging from steel to pork and bourbon on Tuesday, retaliating against import duties on metals imposed by President Donald Trump and taking aim at Republican strongholds ahead of U.S. congressional elections in November. Mexico’s response further raises trade tensions between the two countries and adds a new complication to efforts to renegotiate
We believe the trade actions with the most significant potential economic and market impact have yet to unfold From PIMCO UK Consistent with our expectations back in January, the Trump administration has made trade policy a major focus in this midterm election year. It’s an issue that not only resonates with President Trump’s political base and has animated the president for
From Bloomberg India’s JSW plans investment of up to $500 million in Texas Planned expansion to target U.S. oil and gas industry, Latam India’s top steelmaker plans to triple output at its Texas plant as the U.S. and China trade punches in what may become an extended trade war, sparked by President Donald Trump’s tariffs on imports of the metal. The
