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  • Tue. Nov 5th, 2024

Trump threatens tariffs on oil imports to ‘protect’ U.S. energy workers

Trump threatens tariffs on oil imports to ‘protect’ U.S. energy workers

WASHINGTON (Reuters) – U.S. President Donald Trump said on Saturday he would impose tariffs on crude imports if he has to “protect” U.S. energy workers from the oil price crash that has been exacerbated by a war between Russia and Saudi Arabia over market share.

U.S. President Donald Trump addresses the daily coronavirus task force briefing in the press briefing room at the White House in Washington, U.S., April 4, 2020. REUTERS/Joshua Roberts/File Photo

“If I have to do tariffs on oil coming from outside or if I have to do something to protect our … tens of thousands of energy workers and our great companies that produce all these jobs, I’ll do whatever I have to do,” Trump told reporters in a briefing about the coronavirus outbreak.

Oil prices have dropped by about two-thirds this year as the pandemic crushes demand and as major producers Russia and Saudi

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