Trump Floats Tariffs on Foreign Oil to Boost U.S. Oil Prices

by | Jan 14, 2021

Following a meeting with oil executives on April 3, the president said he would not impose tariffs on foreign oil as a way to mitigate the impact of the Russia-Saudi oil price war on U.S. companies. But within 48 hours, at a COVID-19 pandemic press briefing, the president mentioned imposing such tariffs, according to CNBC. “I would use tariffs, if I had to,” Trump said, adding that since he believed Russia and Saudi Arabia would soon agree to lower production levels (a move that would likely stabilize and increase global oil prices), he probably wouldn’t have to. Status: President Trump made his comments on April 5, 2020, but has not announced any new tariffs.

Website | + posts

Amy Westervelt is the editor-in-chief of Drilled News, creator and host of the Drilled podcast, and founder of the Critical Frequency podcast network, named AdWeek's Podcast Network of the Year in 2019. An award-winning print and audio journalist, Amy has contributed to The Guardian, The Wall Street Journal, and The Washington Post, as well as KQED, The California Report, Capital Public Radio, and many other outlets. She is the 2015 winner of the Rachel Carson award for "women greening journalism," and a 2016 winner of an Edward R. Murrow award for her series on the impacts of the Tesla Gigafactory in Nevada. In 2019, the Drilled podcast won the Online News Association's "Excellence in Audio Storytelling" award.

+ posts

Emily J. Gertz is senior editor of Drilled News. A longtime environmental reporter and editor, her work has appeared in HuffPost, Reveal, Arctic Today, The Guardian, Popular Science, Scientific American, Sierra, and more.