President Donald Trump’s high-stakes bid to use natural gas exports as leverage to expand US influence in Europe and Asia appears to be gaining early traction.

President Trump has threatened to place 25% tariffs on Canada and Mexico as soon as this Saturday, potentially disrupting the relatively stable prices drivers have been paying for gasoline during a seasonally slow period for fuel demand.

President Donald Trump has threatened tariffs against Colombia amid a deportation fight. Here's a look at what could see price increases.

Oil prices slipped for a second day on Thursday after U.S. crude stockpiles rose more than expected, though attention remained on tariffs threatened by U.S. President Donald Trump on Mexico and Canada,

President Donald Trump’s “drill, baby, drill” pledge is well known, but drivers may end up paying more at the pump in the coming months despite his plans to lift U.S. oil production.

Oil prices fell on Wednesday, with the U.S. benchmark settling at its lowest year to date, after domestic crude stockpiles in the world's top petroleum producer and consumer rose more than expected last week.

Instead, Trump told reporters he would narrow his focus on Canada and Mexico and pledged to impose 25% tariffs on both neighboring countries as soon as Feb. 1, 2025. The threat of said tariffs would be levied in retaliation for allowing illicit drugs and migrants to cross the border.

U.S. President Donald Trump on Thursday said the United States will put a 25% tariff on imports from Mexico and Canada, repeating his warning to the two countries which are top U.S. trade partners. (Reporting by Steve Holland) Copyright 2025 Thomson Reuters.