The sweeping package of tariffs unveiled by Donald Trump on Wednesday includes an exemption for the energy sector, which is a clear sign of the president’s fealty to his big oil donors over the American people, advocates say.
Trump’s new 10% universal tariffs – which are higher for many major economies – are wreaking havoc on the global economy and are expected to increase consumer prices in the US. But the levies will not apply to many fossil fuel products, including liquefied natural gas imports, crude oil from Canada, and materials needed for making petrochemicals.
