WASHINGTON (REUTERS) - US President Donald Trump said on Saturday (April 4) he would impose tariffs on crude imports if he has to 'protect' US energy workers from the oil price crash that has been exacerbated by a war between Russia and Saudi Arabia over market share.. Read more at straitstimes.com.
WASHINGTON - US President Donald Trump said on Saturday he would impose tariffs on crude imports if he has to"protect" US energy workers from the oil price crash that has been exacerbated by a war between Russia and Saudi Arabia over market share.
The United States in recent years has become the world's biggest oil producer, at times putting its exports in competition with Russia and members of the Organization of the Petroleum Exporting Countries, or OPEC. Two major industry groups, the American Petroleum Institute and American Fuel & Petrochemical Manufacturers, told Trump in a letter on Wednesday that tariffs on oil imports would jeopardise the domestic refining business as some plants depend on crude from abroad.
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