Fri Jan 31 09:36:09 IST 2025: ## Trump May Exempt Oil from Tariffs on Mexico and Canada
**Washington D.C.** – President Trump has left the door open to exempting oil from the 25% tariffs he plans to impose on imports from Mexico and Canada starting this Saturday. Speaking at the White House Thursday, he stated that a decision on whether to include oil in the tariffs would be made “probably tonight.” His decision hinges on the price of oil from these nations.
The President asserted that the US could easily replace any lost imports, claiming, “We don’t need the products they have. We have all the oil you need.” This statement, however, contrasts with data from the US Energy Information Administration, showing Canada supplied over half of US crude oil imports in 2023, with Mexico providing an additional 11%.
Both Canada and Mexico have vowed retaliatory tariffs while simultaneously attempting to address President Trump’s concerns about border security. The tariffs, initially announced shortly after President Trump’s election, are framed as a response to illegal immigration and drug trafficking.
The President also hinted at potential future tariffs on China, citing the fentanyl crisis and stating he is “thinking about” imposing tariffs to pressure Beijing into curbing the flow of the opioid. China has previously cautioned against protectionist measures, advocating for mutually beneficial trade solutions.
First Piper 