US President Donald Trump hinted at the possibility of imposing tariffs on oil imports, due to a ‘massive excess’ supply on the global market created by the Saudi-Russian price war and exacerbated by the Covid-19 pandemic.
“There’s too much oil, there’s a glut,” Trump said at a White House press conference on Friday, when asked what he discussed with oil industry executives earlier in the day. While lower gas prices at the pump were a good thing for Americans impacted by the economic shutdown over the pandemic, they were also hurting the US energy sector, he said.
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