Trump plans 25% tariffs on oil imports from Canada and Mexico on first day in office

U.S. President-elect Donald Trump plans to impose 25% tariffs on oil imports from Canada and Mexico starting on his first day in office. This move is part of a broader strategy to pressure these countries on drug and immigration issues. The tariffs would apply to crude oil, which is a significant concern for the U.S. refining industry. Canada and Mexico supply nearly a quarter of the crude oil processed in the U.S., raising fears of potential energy price increases. Trump's transition team highlighted past tariff successes with China, claiming they created jobs and did not cause inflation. The team emphasized a focus on American workers and economic restoration.