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On the day after Trump announced his tariffs, a Canadian energy company said prices would rise for its customers in the US – Yahoo News UK UK

On the day after Trump announced his tariffs, a Canadian energy company said prices would rise for its customers in the US – Yahoo News UK UK

  • President Donald Trump’s tariffs in Canada Include 10% duty on energy products consumed by many Americans in the northern states. On Sunday, a Canadian energy company said its customers in the US would see a price increase due to tariffs.

President Donald Trump has signed executive orders on Saturday to impose tariffs on the best trading partners in America, and the next day, a Canadian energy company said its customers in the US would see higher prices.

But these campaigns may have been detained so far. On Monday, Trump agreed to a one -month pause at a 25% total tariff and a 10% tax on Canadian energy imports after Prime Minister Justin Trudeau promised more cooperation for border security. Otherwise, the obligations would come into force at midnight on Tuesday.

US refineries, especially in the Midwest, rely on Canadian raw to process gasoline, which means that the prices of the pump will rise. Many Americans living in the Northern States also buy energy products directly from Canadian companies.

This is the case of Irving, which has supplied the Northeastern US with energy since 1972, with the greater part of its production from its refinery St. John in New Brunzuick going to the US markets.

“This tariff will lead to an increase in prices for our customers in the United States and will affect energy security and the broader economy,” Irving said in a statement. “Given the importance of protecting the energy supply chain, we urge all stakeholders within the government and the industry to gather and work for resolution as soon as possible.”

While Trump is on the fight against inflation, his tariffs will increase prices in a number of daily brackets. On Sunday, he acknowledged their impact, acknowledging that “some pain” was forthcoming.

Earlier on Monday, he made a deal with Mexico to stop his tariff by 25% in a month. But 10% tariff for China is approaching.

Meanwhile, Irving’s customers in the US have also received notifications on Sunday that prices are rising. One even reached New Hampshire, where Douglas Irwin, who wrote books about free trade and protectionism, is a professor of economics in Dartmouth.

“If there is any doubt that the tariffs are passed on to the users, the price of the propanal to heat my house just increases the amount of the tariff,” he said when he published an image of Irving’s news.

Irving and Irwin did not immediately answer requests for comment.

According to Canadian statistics, Canada represents 61% of raw oil imports to the United States in 2021, 98% of natural gas imports in 2020, 93% of electricity imports and 28% of uranium purchases.

Nearby, Maine was also preparing to raise Trump’s rates in Canada. On Friday, Senator Susan Collins told X that 95% of the heating oil used by most mainrs comes from refineries in Canada, while the base of the National Guard in Bangor “depends entirely on the jet fuel and diesel from Canada.

“From fishing to potato farmers to paper mills, these tariffs will have a significant impact on the Maine economy and risk increasing the cost of our residents,” she added.

This story was originally presented on Fortune.com

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