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Houston – United States could reach an agreement with Canada that avoids tariffs on imports of oil, gas and other energy resources, the Secretary of Energy Chris Wright said on Monday.
Wright said such a stage is “it is certainly possible”, but “it is too early to say” in response to a CNBC question during a press conference at the Ceraweek for S&P global. The United States is in “active dialogue” with Canada and Mexico, said the Secretary of Energy.
President Donald Trump He has stopped until April 2 tariffs on Mexican and Canadian imports that are Complies with the agreement which governs trade in North America. Trump originally imposed 25% wide tariffs on the goods of both countries, as well as Rates less than 10% In Canada’s energy imports.
However, it is not clear how much oil, gas and other energy that imports from the United States of Canada comply with the United States-Mexico-Canada agreement. Wright refused to provide details when CNBC asked how much of these imports the USMCA.
“I’m going to avoid details for now,” Wright said. The Secretary of Energy said: “We cannot get very low rates or rates, but it has to be reciprocal” in an interview with CNBC’s Brian Sullivan.
Canada’s Minister of Energy, Jonathan Wilkinson, warned last week that energy prices will increase in the United States. If tariffs on energy imports enter into full.
“We will see greater gasoline prices according to energy, the highest electricity prices of Canada’s hydroelectricity, the highest home heating prices associated with natural gas that comes from Canada and the prices of higher cars,” Wilkinson told CNBC’s Megan Cassella In an interview.
The United States has been the largest producer of crude oil and natural gas in the world for years. But many refiners in the United States depend on heavy crude imported from Canada. The United States imported 6.6 million barrels of crude oil per day on average in December, more than 60% came from Canada, according to the Energy Information Administration.
Wright acknowledged that tariffs are creating uncertainty in energy markets as negotiations continue.
“We are in the midst of the negotiations about where things are going to go with tariffs, so it feels scary and exciting at this time, but this time it will happen,” Wright said. “Agreements will be made, we will obtain certainty and we will have a positive economic environment for the Americans in the future.”
American crude oil fell more than 1% on Monday to close to $ 66.03 per barrel, while Global Benchmark Brent closed to $ 69.28 per barrel. Crude oil futures have retired substantially as Trump’s commercial policy creates uncertainty and OPEC+ has confirmed that he plans to gradually bring 2.2 million barrels per day of production from next month.
