Oil producers warn Trump tariffs on Canada could raise US petrol prices

Donald Trump plans to impose a 25% tariff on imports from Canada and Mexico, which could raise U.S. petrol prices. Oil producers warn that this would lead to higher gasoline costs for American consumers and disrupt North American energy security. The Canadian oil industry, which supplies over half of U.S. crude imports, would be significantly affected. Canadian Prime Minister Justin Trudeau and Mexico's President Claudia Sheinbaum have expressed concerns about potential trade tensions resulting from these tariffs. The U.S. imports a large amount of crude oil, with 60% coming from Canada. Analysts indicate that if tariffs are enacted, U.S. consumers will likely face higher pump prices, as local producers may struggle to replace Canadian oil.