Trump tarrifs on Canada, Mexico could hurt oil companies, NYT says

Oil and gas companies in the U.S. are preparing for the possibility President Trump will thrust their business into disarray and drive-up prices by imposing 25% tariffs on goods from Canada and Mexico, Rebecca Elliott of The New York Times reports. While the U.S. is the world’s largest oil producer, the country’s refineries are designed to turn a mix of different types of oils into fuels. Approximately 60% of oil the U.S. imports come from Canada while 7% comes from Mexico. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).