AFPM urges swift resolution to avert impact of Trump's tariffs
The American Fuel & Petrochemical Manufacturers Association (AFPM) expressed concern over President Trump's decision to impose a 10% tariff on the import of crude oil and energy goods from Canada and Mexico, and expressed hope that it will not be in effect for too long.
The AFPM expressed hope for a swift resolution with North American partners to exclude crude oil, refinery products, and petrochemicals from the tariffs before these measures begin to affect consumers.
The industry concerned about Trump's decision
President Donald Trump signed an order on Saturday imposing high 25% tariffs on imports from Canada, Mexico, and China, including somewhat lower 10% tariffs on the import of crude oil and other energy goods from these countries.
The White House cited the influx of fentanyl across the northern and southern US borders, China's role in supplying drug cartels, and the influx of illegal immigrants from Canada and Mexico to the US as the official reasons for imposing these tariffs.
President of Mexico Claudia Sheinbaum ordered on Saturday the imposition of tariffs in retaliation for the 25% tariffs imposed on imports from Mexico by US President Donald Trump.
"We categorically reject the slander made by the White House against the Mexican government, that it has links with criminal organizations, as well as any intentions of interfering with our territory," Sheinbaum wrote on platform X.
Canadian Prime Minister Justin Trudeau also responded and announced that Canada will impose 25% retaliatory tariffs on American goods valued at CA$155 billion (approximately US$115 billion).
The Prime Minister warned that Canadian tariffs will harm the American economy. He encouraged Canadians to buy Canadian goods and spend their vacations in their own country rather than the United States.
