The U.S. energy sector is girding for a major shakeup just hours before President Donald Trump’s steep tariffs on China and Canada take effect.
The president signed executive orders Saturday that would slap 25 percent tariffs on all goods imported from Canada and Mexico, including steel and aluminum. A 10 percent tariff is being imposed on Canadian energy — including oil and gas, hydropower, critical minerals, uranium, and coal. Chinese goods coming will be hit with a 10 percent duty, per Trump’s order.
The tariffs are slated to take effect at 12:01 a.m. EST Tuesday.
But the policy is in flux. On Monday, the president confirmed on Truth Social that tariffs on Mexico will be paused for a month following Mexican President Claudia Sheinbaum’s vow to send 10,000 Mexican soldiers to the U.S.-Mexico border.