Trump says prices on Canada and Mexico to come on Saturday, and he decides to tax their oil

Washington (AP) – President Donald Trump said her 25% Prices in Canada and Mexico Arrive on Saturday, but he still plans to include the oil of these countries as part of his import taxes.

“We may or not,” Trump told journalists Thursday in the oval office about the oil rate in Canada and Mexico. “We are likely to take this determination tonight.”

Trump said his decision would be based on the question of whether the price of oil billed by the two business partners was fair, although the basis of his threatened concerns the cessation of illegal immigration and the smuggling of chemicals used for fentanyl.

The risk of Canadian and Mexican oil prices could undermine Trump’s repeated commitment to reducing overall inflation by reducing energy costs. The costs associated with prices could be transmitted to consumers in the form of an increase in petrol prices – a problem that Trump posed at the center of his republican presidential campaign when he has sworn to reduce energy costs in a one year.

“One year from January 20, we will have your energy prices half reduced throughout the country,” Trump said at the Town Hall in 2024 in Pennsylvania.

Ap Votcast, an in -depth study of the electorate, revealed that 80% of voters have identified gas prices as a concern. Trump won nearly 6 out of 10 voters who said they were worried about the pump.

The United States has imported nearly 4.6 million barrels of oil from Canada daily in October and 563,000 barrels from Mexico, according to the Energy Information Administration. The daily production of the United States during this month was on average nearly 13.5 million barrels per day.

Matthew Holmes, executive vice-president and public policy chief of the Canadian Chamber of Commerce, said that Trump’s prices would first tax America “in the form of higher costs.

“It is a loser-percent,” said Holmes. “We will continue to work with partners to show President Trump and Americans that it does not make life more affordable. This makes life more expensive and sends our integrated companies to rush. »»

But Trump has shown no concern that import taxes on trade partners in the United States would have a negative impact on the American economy, despite the risk indicated in many economic analyzes of higher prices.

“We don’t need the products they have,” said Trump. “We have all the oil you need. We have all the trees you need, which means wood.

The president also said that China would pay prices For its export of chemicals used to make fentanyl. He previously declared a tariff of 10% which would be aware of other import taxes billed on products from China.

Oil prices were traded at around $ 73 a barrel on Thursday afternoon. Prices increased in June 2022 under President Joe Biden to more than $ 120 a barrel, a period which overlaps with overall inflation reaching a level of four decades which fueled a wider feeling of public dissatisfaction at the regard for democratic administration.

Gas prices are on average $ 3.12 Gallon in the United States, almost the same price as a year ago, according to AAA.

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