How Trump Tariffs Can Impact Us, Canada Oil Trade

The video discusses the impact of a 10% tariff on Canadian crude oil imported to the US. Canada plays a crucial role in the American oil system, supplying 4 million barrels daily. The tariff will likely lead to shared costs between Canadian producers and US refiners. The market reaction is significant, especially in gasoline prices, which have risen. The Midwest, heavily reliant on Canadian crude, may see immediate effects at the pump.

What percentage tariff was imposed on the flow of crude oil?

• 5%

• 10%

• 15%

• 20%

Which country is a crucial part of the American oil system?

• Mexico

• Saudi Arabia

• Canada

• Russia

Who is likely to share the cost of the tariffs?

• Only American refiners

• Only Canadian oil producers

• Both Canadian oil producers and American refiners

• Neither Canadian oil producers nor American refiners

What is the main concern for US refiners regarding the tariffs?

• Increasing production

• Finding alternative crude sources

• Reducing exports

• Improving technology

Which region might feel the impact of the tariffs at the pump?

• Northeast

• Midwest

• Southwest

• Southeast