A string of potential new tariffs on U.S. imports from China, Canada and Mexico could have mixed effects on energy markets, according to ING analysts.
President-elect Donald Trump pledged that soon after taking office he would slap Mexico and Canada with a 25% tariff and impose an additional 10% tariff on Chinese goods.
“For energy markets, new tariffs could make crude oil and natural gas expensive in the U.S. as Canada is one of the major suppliers of energy products,” ING’s Ewa Manthey and Warren Patterson said in a note. “On the other hand, tight supplies from external markets could lead to bigger investments into shale drilling that may help push domestic production higher.”
Source link : https://www.barrons.com/livecoverage/stock-market-today-112624/card/trump-s-tariff-pledges-could-have-mixed-impact-on-energy-kVzAVJpgYaDHuF8e6EYB
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Publish date : 2024-11-25 21:45:00
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