Oil Companies Embrace Trump, but Not ‘Drill, Baby, Drill’
Oil and gas executives welcomed President Trump’s early moves on energy policy, but many said they did not plan to increase production unless prices rose significantly.
It Is Happening Every Day, Every Where
Oil and gas executives welcomed President Trump’s early moves on energy policy, but many said they did not plan to increase production unless prices rose significantly.
Crown Prince Mohammed bin Salman spoke with President Trump, who has warned of retaliation against governments he sees as acting against U.S. interests.
The JPMorgan Chase chief executive, who had warned of the negative effect of tariffs, said they could be justified for national security reasons.
The president said he will impose tariffs Feb. 1 on products from Canada, Mexico and China, which together account for more than a third of U.S. trade
The president wants to begin renegotiating a U.S. trade deal with Canada and Mexico earlier than a scheduled 2026 review, people familiar with his thinking said.
The president said the planned duties were a response to China’s failure to curb fentanyl exports.
North American car companies have operated across borders for three decades. Tariffs would raise prices and cost jobs in the short run, analysts say.
While much about the threatened tariffs is still unclear, experts predict they would be bad news for all three economies, with few winners.
President Trump wants an External Revenue Service to collect tariffs on imports. One trade expert said the move may be “more branding than substance.”
Automakers and even some Republicans may fight to preserve funds, and environmental activists will likely sue, but some experts said that some changes may not survive legal challenges.