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Trump tariffs on Canada would push up US petrol prices, say oil producers

Financial Times LogoFinancial Times11h ago

Trump tariffs on Canada would push up US petrol prices, say oil producers - Financial Times

Quick Summary:

Despite being the largest oil producer in the world, the US imports large amounts of crude which is converted in its refineries into petrol and other petroleum products.

Trump proposed late on Monday imposing a 25 per cent tariff on all imports from Mexico and Canada, accusing the US’s closest neighbours of failing to tackle illegal migration and drug trafficking.

Danielle Smith, premier of Alberta, where the bulk of Canadian oil is produced, said Trump had “valid concerns related to illegal activities at our shared border” as she urged the federal government to “work with the incoming administration to resolve these issues immediately”.


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Article Details

Author / Journalist: Jamie Smyth

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-26 @ 16:51:11 (11 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 619 words

Reading Time: 4 minutes read

Sentences: 26 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23892897

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 15 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 10 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

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