Trump's tariffs spark North American trade tensions
The American Fuel & Petrochemical Manufacturers (AFPM) have expressed concern over President Trump's decision to impose a 10% tariff on imports of crude oil and energy goods from Canada and Mexico. They hope it will not remain 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.
Industry concerned about Trump's decision
President Donald Trump signed an order on Saturday imposing a significant 25% tariff on imports from Canada, Mexico, and China, alongside a slightly lower 10% tariff on imports of crude oil and other energy goods from those countries.
The official justification provided by the White House for these tariffs was the influx of fentanyl across the USA's northern and southern borders, alleged Chinese involvement in supplying drug cartels, and the flow of illegal immigrants from Canada and Mexico to the USA.
response already under way
The President of Mexico, Claudia Sheinbaum, ordered the introduction of tariffs on Saturday, in retaliation for the 25% tariffs imposed on imports from Mexico by U.S. President Donald Trump.
"We categorically reject the slander pronounced by the White House against the Mexican government, alleging connections with criminal organisations, as well as any intended interference in our territory," Sheinbaum wrote on the X platform.
Canadian Prime Minister Justin Trudeau also responded, announcing that Canada will impose 25% retaliatory tariffs on American goods worth 93 billion British pounds (GBP) (approximately 107 billion USD).
The Prime Minister warned that Canadian tariffs will negatively affect the American economy. He encouraged Canadians to purchase Canadian products and spend holidays in their country rather than in the United States.
