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Donald Trump loved to use tariffs on foreign goods during his first presidency. “There's going to be a lot more tariffs, I mean, he's pretty clear,” said Michael Stumo, the CEO of Coalition for a Prosperous America, a group that has supported import taxes to help domestic manufacturing. The president-elect posted on social media Monday that on his first day in office he would impose 25% tariffs on all goods imported from Mexico and Canada until those countries satisfactorily stop illegal immigration and the flow of illegal drugs such as fentanyl into the United States.

SINGAPORE/LONDON (Reuters) -Oil producers in Canada and Mexico will likely be forced to reduce prices and divert supply to Asia if U.S. President-elect Donald Trump imposes 25% import tariffs on crude imports from the two countries, traders and analysts said. Two sources familiar with Trump's plan told Reuters that oil would not be exempted from potential tariff hikes on imports from Canada and Mexico, despite the U.S. oil industry's warnings that the policy could hurt consumers, industry and national security. Canada and Mexico are the top two petroleum exporters to the United States, contributing 52% and 11% of its gross imports, respectively, data from the U.S. Energy Information Administration showed.

(Bloomberg) -- China’s independent refiners have snapped up barrels from across the Middle East and Africa as offers of Iranian oil remain scarcer and more expensive than usual, in part due to broadening US sanctions.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasA large processor bought about 10 million barrels of grades from Abu Dhabi and Qatar, a

(Bloomberg) -- Even as Mexico President Claudia Sheinbaum attempts to quell concerns over Donald Trump’s threat of 25% tariffs, economists are looking glumly at the trouble ahead should the US president-elect actually follow through.Most Read from BloombergIn Traffic-Weary Toronto, a Battle Breaks Out Over Bike LanesIn Italy’s Motor City, Car-Free Options Are GrowingNew York City’s ‘Living Breakwaters’ Brace for Stormier SeasIn Kansas City, a First-Ever Stadium Designed for Women’s Sports Takes

A top New Zealand central banker said on Thursday that U.S. President-elect Donald Trump's economic policies could pose a medium-term risk to inflation though the bank had not conducted any formal modelling on potential impacts. Reserve Bank of New Zealand (RBNZ) Chief Economist Paul Conway said Trump's policy agenda could result in higher prices and so there could be "more inflation volatility going forward".

(Reuters) -MSCI's global equities index edged lower and the dollar slipped with Treasury yields on Wednesday as investors digested the latest economic data and the potential impact of policies from the incoming U.S. administration, including tariff threats. Oil prices settled close to flat after a large, surprise build in U.S. gasoline stockpiles and worries about the outlook for U.S. interest rates in 2025 countered easing supply concerns from a ceasefire deal between Israel and Hezbollah. In the 12 months through October core inflation, which the Federal Reserve tracks for monetary policy, increased 2.8% after climbing 2.7% in September.

(Reuters) -Wall Street's main indexes closed lower on Wednesday, with the Nasdaq leading declines, as technology stocks slumped on Thanksgiving eve on worries the Federal Reserve may be cautious about rate cuts after stubbornly strong U.S. inflation data. Traders added to bets the Fed will lower borrowing costs by 25 basis points at its December meeting, according to CME's FedWatch. Investors were still gauging the impact of President-elect Donald Trump's pledge on Monday to impose duties of 25% on imports from Mexico and Canada and 10% on Chinese goods unless they halt flows of the deadly opioid fentanyl and illegal migrants into the U.S.