Reported about 17 hours ago
Goldman Sachs has reported that President Trump's proposed 10% oil tariff could cost foreign producers up to $10 billion each year, primarily affecting Canadian and Latin American crudes that are heavily reliant on U.S. refiners. The U.S. is expected to maintain its position as the main buyer due to its advanced refining capabilities, despite the tariffs. Goldman forecasts that while U.S. consumers will bear substantial costs, Canadian and Latino producers will need to reduce prices to stay competitive in the U.S. market.
Source: YAHOO