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Trump's Mexican Tariffs Could Take a Toll on U.S. Refiners

Reuters, June 3, 2019
Reuters

U.S. President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting U.S. consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world’s biggest buyer of U.S. energy products.

Mexico sends 600,000 to 700,000 barrels of oil to the United States every day, mostly to refiners that process that crude into gasoline, diesel and other products.

Mexico buys more than 1 million barrels per day (bpd) of U.S. crude and fuel, more than any other country, and analysts are concerned that retaliatory tariffs from Mexico could disrupt that trade.

 

(Reporting By Collin Eaton, Erwin Seba and David Gaffen; Additional reporting by Stephanie Kelly and David Alire Garcia; Writing by David Gaffen; Editing by Marguerita Choy, Sonya Hepinstall and Cynthia Osterman)

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Copyright 2019 Thomson Reuters. Click for restrictions.

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