The President and CEO of the American Fuel & Petrochemical Manufacturers (AFPM), Chet Thompson, has made the following statement regarding the US Administration’s announcement of tariffs on products made in Mexico:
“Imposing tariffs on Mexican products, particularly crude oil, could raise energy prices for US consumers, disadvantage the US refining industry and jeopardise passage of USMCA — all bad outcomes. We thus urge the President not to pursue energy tariffs against one of our most important trading partners.”
President Trump recently vowed to impose a tariff on all goods entering the US from Mexico, starting at 5% and increasing monthly until the surge of undocumented immigrants from across the border subsides.