Tariffs in North America would affect energy markets like never before

Donald Trump’s promises of tariffs against Canada and Mexico would be harmful to the U.S. economy, upending numerous cross-border business relationships. Tariffs would violate the terms of the United States–Mexico–Canada Agreement (USMCA) that Trump’s first administration negotiated and that Trump said was “the most important trade deal we’ve ever made by far.” And, unlike at any point in the past, they would affect U.S. energy markets.