Trump Announces Tariffs on Oil, Gas, and Metals Starting February 18

U.S. President Donald Trump has announced that tariffs will be imposed on oil, gas, steel, aluminum, and copper starting February 18. Speaking on the issue, President Trump stated that the U.S. had not received favorable treatment from countries like Canada, Mexico, and China, and emphasized that they would not be able to do anything about the new tariffs. He also confirmed that tariffs would be extended to the European Union.

In addition, President Trump commented on the geopolitical situation, stating that countries like Jordan and Egypt would accept victims from Gaza, and he expressed hope for productive discussions with Russian President Vladimir Putin on several important matters. Trump also mentioned plans to regain control over the Panama Canal.

This announcement follows the earlier decision by the White House to impose 25% tariffs on goods from Mexico and Canada, and 10% tariffs on imports from China, effective February 1. The White House confirmed that the new duties would apply to goods being exported from Mexico and Canada to the U.S., and to Chinese exports as well.

There are concerns that the new tariffs could further increase oil prices. The White House press secretary mentioned that a final decision on imposing tariffs on the European Union has not yet been made.

In a related development, Israeli Prime Minister Benjamin Netanyahu is scheduled to visit the U.S. on Tuesday and will meet with President Trump. Canadian Prime Minister Justin Trudeau has also warned that Canada would respond swiftly and strongly if tariffs are imposed, but he expressed a desire to avoid such actions.

A tariff is a tax or duty that a government places on imported or exported goods, usually to protect domestic industries, reduce trade deficits, and generate revenue for the government.