{"id":82730,"date":"2024-11-28T00:00:00","date_gmt":"2024-11-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/trumps-pledged-tariffs-could-shift-commodity-and-energy-trade-patterns\/"},"modified":"2024-11-28T00:00:00","modified_gmt":"2024-11-28T00:00:00","slug":"trumps-pledged-tariffs-could-shift-commodity-and-energy-trade-patterns","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/11\/28\/trumps-pledged-tariffs-could-shift-commodity-and-energy-trade-patterns\/","title":{"rendered":"Trump\u2019s pledged tariffs could shift commodity and energy trade patterns"},"content":{"rendered":"

Global commodity and energy sectors could be impacted by US President-elect Donald <\/strong>Trump\u2019s proposed tariffs<\/strong> on Canada, Mexico, and China<\/strong>, Reuters<\/a> reports. The potential tariffs would affect a vast range of industries including oil, natural gas, agriculture, and manufacturing.<\/p>\n

REMEMBER-<\/strong> Trump said he plans to increase and impose tariffs<\/a> on Canada, Mexico and China when he is sworn in on 20 January. A 25% tariff on imports from Canada and Mexico are planned until the countries control illegal pharma trade and immigration, and an additional 10% tariff on imports from China.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

Canada dominates the energy market exporting around USD 177.19 bn in energy products to the US last year alone<\/strong>, with crude exports making up over a fifth of all oil entering US refineries. Together, Mexico and Canada exported some 5.2 mn bpd to the US in 2024, with just over 4 mn bpd coming from Canada. In terms of natural gas, Canada\u2019s exports to the US were valued at USD 6 bn and totaled to 8 bn cfd in 2023. On the flip side, the US exported some 2.7 bn cfd to Canada and 6.4 bn cfd to Mexico last year. Canada and Mexico exported some 8.5 bn cfd of natural gas to the US in the first eight months of 2024.<\/p>\n

Mexico exported some USD 45.4 bn worth of agricultural goods to the US last year,<\/strong> making it the US\u2019 largest importer, followed by Canada which delivered USD 40.1 bn worth of goods. With Mexico exporting 521k short tons of sugar to the US alone during last year's season. Meanwhile Canada dominates the potash market, accounting for 85% of the US\u2019 13 mn tons in potash imports last year.<\/p>\n

We knew this was coming:<\/strong> The world has been gearing up<\/a> for Trump\u2019s potential trade war, which could see a 10 to 20% tariff on imports from all foreign countries and an additional 60-100% tariff on imports specifically from China, with several logistics players urged to front load their shipments ahead of any changes in tariff policy.<\/p>\n

The US has threatened to continue tariffs until its border security is heightened,<\/strong> calling on its neighbours to halt the flow of undocumented migrants and the illicit, deadly drug Fentanyl, Bloomberg<\/a> reports.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mexico exported some USD 45.4 bn worth of agricultural goods to the US last year, making it the US\u2019 largest importer, followed closely by Canada which delivered USD 40.1 bn worth of goods.<\/p>\n","protected":false},"author":1,"featured_media":82731,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[56],"tags":[369,55,32,54],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82730","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-logistics-in-the-news","tag-canada","tag-logistics-in-the-news","tag-trade","tag-us","wpautop","entry"],"acf":{"mongo_id":"fcdd968f-86d5-4259-b2ef-aaba47edfb09","order":"13","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2670.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Trump\u2019s 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