Tariffs on goods from Canada and Mexico may start in March
February 25, 2025
The energy markets had another day of congestion keeping these markets all balled up.
President Trump said tariffs would be placed on Canadian and Mexican goods when the deadline for a pause on such action arrives next week.
The Treasury Department said the US imposed sanctions on more than 30 people and vessels for their role in selling and transporting Iranian petroleum-related products as part of Iran’s “shadow fleet”. The sanctions target oil brokers in the UAE and Hong Kong, tanker operators and mangers in India and China, the head of Iran’s National Iranian Oil Company and the Iranian Oil Terminals Company. This news did offer support to crude oil prices yesterday.
President Trump says he wants the Keystone XL pipeline to be built.
The news of tariffs and more sanctions are bullish times but the market’s reaction so far to all this is pretty uneventful so that seems like the market is in for more congestion.
US manufacturing production was flat from November to January vs. a year prior. According to John Kemp of John Kemp Energy, net growth in manufacturing prodctuion has been negligible since 2014. Not a positive sign of the economic outlook.