U.S. President Donald Trump said on Saturday he would impose tariffs on crude imports if he has to "protect" U.S. energy workers from the oil price crash that has been exacerbated by a war between Russia and Saudi Arabia over market share. "If I have to do tariffs on oil coming from outside or if I have to do something to protect our ... tens of thousands of energy workers and our great companies that produce all these jobs, I'll do whatever I have to do," Trump told reporters in a briefing about the coronavirus outbreak. Oil prices have dropped by about two-thirds this year as the pandemic crushes demand and as major producers Russia and Saudi Arabia boost output in a war over market share....
United said starting Sunday it will go from 157 daily flights total at Newark and New York LaGuardia to just 17. Newark, the airline's hub in the New York area, will drop from 139 daily flights to 62 destinations to 15 flights a day to nine destinations, while LaGuardia will go from 18 to 2 flights a day....
(Bloomberg) -- President Donald Trump ramped up his threats to impose oil import tariffs as renewed diplomatic tension between Saudi Arabia and Russia threatens efforts to reach a new deal to cut output.Trump said Saturday at a White House press briefing he’d use tariffs if needed to protect the domestic oil industry, a day after meeting with U.S. industry leaders. A gathering of OPEC and other major producers scheduled for Monday was delayed until later in the week as Saudi Arabia and Russia traded barbs about who’s to blame for the collapse in crude prices.Optimism over prospects for a deal sent benchmark oil futures to a record gain this week, despite an unprecedented global demand loss from the Covid-19 outbreak. A failure to come to an agreement would likely cause prices to crater again. The U.S. oil industry is split on the idea of tariffs, with some independent shale producers --...
President Trump warned on Saturday that the coming days will be some of the worst for the coronavirus outbreak. Modeling shows New York, Detroit and New Orleans will hit the peak of their outbreaks in the next week. Photo: Bryan Smith/Zuma Press...
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