Gas prices to increase by at least $0.30 under tariffs: Economists | Morning in America
President Donald Trump declared an economic emergency Saturday to place duties of 10% on all imports from China and 25% on imports from Mexico and Canada. Energy imported from Canada, including oil, natural gas and electricity,
Energy prices likely to increase if Trump’s tariffs take effect
He added that the exact impact of tariffs on gas prices will likely be muddied by the annual spring price increase thanks to the expected increase in demand, scheduled refinery maintenance and switch to summer blends of gasoline, which would cause prices to increase 20-60 cents.
The tariff on products imported from Canada will cost Americans 15 cents a gallon or more at the gas pump relatively soon.
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