U.S. President Donald Trump has announced that 25% tariffs on imports from Canada and Mexico will take effect on Saturday, though he is still considering whether to impose tariffs on oil from these countries as well.
Speaking to reporters at the White House, Trump said he would make a decision on oil tariffs soon, according to AP.
Trump emphasized that his decision will be based on whether the oil prices charged by the two trade partners are fair.
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In October, the U.S. imported nearly 4.6 million barrels of oil per day from Canada and 563,000 barrels from Mexico, according to the Energy Information Administration. Meanwhile, daily oil production in the United States averaged nearly 13.5 million barrels per day during that month.
On Thursday, Trump warned that BRICS countries must commit to the U.S. that they will not create a new bloc currency to replace the U.S. dollar, or they will face 100% tariffs.
Trump has previously warned BRICS nations—Brazil, Russia, India, China, and South Africa—not to seek an alternative to the U.S. dollar as the world’s reserve currency.
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Source: Agencije, Foto: EPA-EFE