How Trump's proposed tariffs might affect commodities and energy
Here are commodities and energy sectors which may be affected:
<div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-115714089»> OIL
Canada exported some $177.19 billion in energy products to the United States in 2023, according to government data.
Crude imports from Canada make up more than a fifth of all the oil that U.S. refineries process. About 70% of imported Canadian barrels go to Midwest U.S. refiners that supply an area that includes Chicago and Detroit.
Many of those Midwest refiners are configured to run heavier oil and would either struggle to find a direct replacement for Canadian oil or face paying a higher price if that oil is subject to tariffs. That could drive up fuel costs in the Midwest.
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