Trump to Impose Tariffs on Canada and Mexico This Weekend—But Who Pays?
Trump's tariffs on Canada and Mexico could have a broad economic impact. In 2023, Canada supplied 52 percent of U.S. petroleum imports, while Mexico provided another 11 percent. Trump has hinted that crude oil might be exempt from the tariffs, stating, "Oil is going to have nothing to do with it, as far as I'm concerned."