For now, a majority of observers appear to agree that the tariffs that U.S. President Donald Trump imposed on all of the country’s trade partners would hurt oil demand quite seriously and continue hurting it for their duration. “We are still assessing the macroeconomic implications of the announced tariff measures, but they clearly represent a significant risk to the global outlook at a time of sluggish growth,” she said, adding, “We appeal to the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty.” Like the sanctions on Russia, however, tariffs will, in all likelihood, change patterns in the global oil market but not really kill oil demand, regardless of the short-term effect of the tariffs on economic growth prospects.
Author: Irina Slav
Published at: 2025-04-06 23:00:00
Still want to read the full version? Full article
