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Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say
Trump Tariffs Take Effect: Expect To Pay More For These Items, Experts Say US tariffs on goods from its three largest trading partners -- neighboring nations Canada and Mexico as well as China -- have gone into effect after President Trump signed an order late Saturday afternoon, Feb. 1. Canada and Mexico have been slapped with 25 percent tariffs. The rate for China, America's main economic rival, is 10 percent. Canada also has an adjusted 10 percent rate for energy products, include crude oil. Mexico and Canada account for about 70 percent of US crude oil imports. Now, many economists are warning that American consumers will be paying more for a host of staple i…

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by Joe Lombardi
News
Biden Tapping US Petroleum Reserve To Relieve Pump Prices Biden Tapping US Petroleum Reserve To Relieve Pump Prices
Biden Tapping US Petroleum Reserve To Relieve Pump Prices US President Joe Biden will be tapping the country's petroleum reserves in an effort to save American drivers some cash. One million barrels of oil a day will be released for six months, totaling180 million barrels, from the Strategic Petroleum Reserve (SPR). The soaring gas prices are in part caused by the US ban on oil imports from Russia due to its Ukrainian invasion. The national average for a gallon of gas had fallen to $4.18 as of April 4. Gas price comparisonAAA “The upward push on oil prices caused by Russia’s war in Ukraine is meeting stronger downward pressure from the plann…

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by Cecilia Levine
News
Why Is Gas So Expensive? NJ Congressman Demands Answers From Oil Companies Why Is Gas So Expensive? NJ Congressman Demands Answers From Oil Companies
Why Is Gas So Expensive? NJ Congressman Demands Answers From Oil Companies Oil companies are placing profits ahead of the American people despite their overwhelming support of Ukrainians after the invasion by Russia, a US congressman says. Rep. Frank Pallone Jr., a New Jersey Democrat, accused oil companies of jacking up the cost of gas just when Americans are paying record prices at the pump. The chairman of the House Energy and Commerce Committee, in a letter to the largest oil and gas producers, said there are ample approved drilling spots to meet production needs. Pallone asked the executives of BP, Chevron, Devon Energy Corporation, ExxonMobil, Pioneer Natur…

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by Jon Craig