Trump says he’d use tariffs if needed to protect oil industry [MSN Money]
Exxon Mobil Corporation (XOM)
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Source: MSN Money
(Bloomberg) -- Pridt Donald Trump ramped up his threats to impose oil import tariffs as rewed diplomatic tsion betwe Saudi Arabia and Russia threats efforts to reach a new deal to cut output.© Photographer: Daniel Acker/BloombergTrump said Saturday at a White House prs briefing he’d use tariffs if needed to protect the domtic oil industry, a day after meeting with U.S. industry leaders. A gathering of OPEC and other major producers scheduled for Monday was delayed until later in the week as Saudi Arabia and Russiatraded barbsLoad ErrorOptimism over prospects for a deal st bchmark oil futur to a record gain this week, dpite an unprecedted global demand loss from the Covid-9 outbreak. A failure to come to an agreemt would likely cause pric to crater again. The U.S. oil industry is split on the idea of tariffs, with some indepdt shale producers -- who’ve be hardt hit by the rect market slump -- in support, while refiners and large integrated compani are typically opposed.The American Pet
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