Still no word from Trump on what he has decided on Canadian oil tariffs

Trump said on Thursday afternoon that he’d probably decide that evening on whether to apply his planned 25% tariff to Canadian oil.

There hasn’t been any word on this. He may have decided but hasn’t said anything. Or he may not yet have decided.

A tariff on oil from Canada would hit a major sector and raise the cost of gasoline, particularly in the Midwest.

Earlier:

• Market swings on headlines shows “how on edge everyone is around tariffs”
• Trump threatens BRICs countries with 100% tariffs if they create a new currency

The spike lower in CAD late on Thursday saw USD/CAD to a near five year high. I posted this chart earlier and USD/CAD hasn’t done a lot since.

This article was written by Eamonn Sheridan at www.forexlive.com.