Donald Trump’s proposed restrictions and tariffs on trade could cause turmoil in both the domestic and international energy markets if enacted. This Energy Watch takes a first look at what some of the possible implications of a general import tariff or some sort of border adjustment tax could be on energy flows and prices.
The US is the world’s largest oil importer. The country shipped in almost 8m barrels per day (bpd) of oil last year. The vast majority of this was from Canada, OPEC and Mexico. However, no matter how high the tariffs, the US will still have to import considerable amounts of oil.
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