The White House announced, “President Donald Trump is implementing a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China. Energy resources from Canada will have a lower 10% tariff. President Trump is taking bold action to hold Mexico, Canada, and China accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.” Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BP:
- Trump Weekly: White House says Mexico, Canada tariffs set to start February 1
- Trump’s tariffs against Canada, Mexico to begin March 1, Reuters reports
- Trump Trade: President to place 25% tariff on Mexico, Canada imports
- Trump tarrifs on Canada, Mexico could hurt oil companies, NYT says
- President Trump urges OPEC to lower oil prices