Trump eyes Feb 18 for oil tariffs, expects lower duty for Canada
WASHINGTON - U.S. President Donald Trump said on Friday he expects his administration to impose tariffs related to oil and gas around Feb. 18 and it could reduce the planned levy on some Canadian crude.
Trump did not name a specific country to which the new tariffs would apply or provide any more details about the plans. Asked if tomorrow's tariffs would include Canadian crude, Trump said: "I'm probably going to reduce the tariff a little bit on that. We think we're going to bring it down to 10% for the oil."Many U.S. oil refiners, especially in the Midwest, rely on imported crude because their facilities are configured to run heavier crude grades, such as those from Mexico and Canada.
U.S. Transportation Secretary Sean Duffy said the decision was made to ensure the safety of airplane and helicopter traffic in the area.U.S. refiner Phillips 66 expects production cuts in the Midwest and Rocky Mountain region where alternative crude supplies are limited if tariffs take effect.
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