Trump’s Oil Donor Tariffs: Oligarchy and Price Gouging
President Trump’s new 10% tariffs, while impacting the global economy and raising consumer prices in the US, notably exempt the energy sector, including oil and natural gas. This exemption follows significant financial contributions from the fossil fuel industry to Trump’s re-election campaign and reflects his administration’s ongoing close ties with the sector. While partially shielding the industry from tariff-related market chaos, indirect cost increases from tariffs on steel and aluminum remain a concern. Critics argue this exemption prioritizes wealthy donors over American consumers, contradicting Trump’s pledges to lower prices.
John Q. Hosedrinker