News

(Bloomberg) -- Supply Lines is a daily newsletter that tracks global trade. Sign up here.Most Read from BloombergNew York’s First ‘Passive House’ School Is a Model of Downtown DensityWhen French Communists Went on a Brutalist Building BoomTrump Paves the Way to Deputize Local Police on ImmigrationHow the 2025 Catholic Jubilee Is Reshaping RomeHistoric London Elevator Faces Last Stop in Labour’s Housing PushUS President Donald Trump’s tariffs on imports from Canada and Mexico threaten to disrupt

NEW YORK (Reuters) -U.S. consumers will see higher prices at the gas pump from President Donald Trump's decision on Saturday to apply tariffs on Canadian and Mexican oil, according to analysts and fuel traders. The likely hike in fuel prices reflects the double-edged nature of Trump's trade protections which are designed to bolster domestic business and pressure U.S. neighbors to curb illegal immigration and drug smuggling, but which will also run counter to his promises to tackle inflation. The U.S. imports some 4 million barrels per day of Canadian oil, 70% of which is processed by refiners in the Midwest.

"Despite the 'energy emergency' claims, the US is producing energy in record quantities," JPMorgan Asset Management wrote.

(Bloomberg) -- Big Oil was once the antithesis of the asset-light, hyper-growth world of Silicon Valley. Now it’s looking to Big Tech to stay relevant. Most Read from BloombergWhen French Communists Went on a Brutalist Building BoomNew York’s First ‘Passive House’ School Is a Model of Downtown DensityHow the 2025 Catholic Jubilee Is Reshaping RomeTrump Paves the Way to Deputize Local Police on ImmigrationHistoric London Elevator Faces Last Stop in Labour’s Housing PushExxon Mobil Corp., Chevron

U.S. employers likely slowed hiring down in January, but still added jobs at a healthy rate overall, if forecasters are correct.

(Bloomberg) -- Russia’s ability to keep making fuel at the normal pace is looking increasingly precarious following a surge in Ukrainian drone attacks on the nation’s oil refineries, including a fresh incident on Friday. Most Read from BloombergWhen French Communists Went on a Brutalist Building BoomNew York’s First ‘Passive House’ School Is a Model of Downtown DensityHow the 2025 Catholic Jubilee Is Reshaping RomeTrump Paves the Way to Deputize Local Police on ImmigrationHistoric London Elevato

Trump argued on Wednesday that Powell and the Fed "failed to stop the problem they created with inflation."