Worried About How Tariffs Will Affect Energy Prices? Here's What Might Happen

Cars and agricultural products aren't the only goods the Trump administration is targeting with tariffs. As part of the package of tariffs announced on March 5, the US slapped a 10% tariff on Canadian energy in addition to 25% tariffs on nearly all goods imported from Canada and Mexico. At first, some businesses, like carmakers, were temporarily exempted, but that's no longer the case as of April 2. The Trump administration unveiled a list of tariffs for every country in the world, ranging from tariffs of 54% on China to 24% on Japan, 49% on Cambodia and 10% as a baseline for others. The good news is there have been no additional tariffs on Canada and Mexico, though that doesn't mean American consumers won't feel an impact. On paper, the US imports only about 1% of its power needs, but the Northeast grid is significantly intertwined with the Canadian energy market. "Some American states might see energy costs rise rapidly, while others might experience a delayed effect over several w ... Read full article.