Trump will impose tariffs on oil, gas and pharmaceutical imports as part of his economic agenda

On Friday, President Donald Trump confirmed that he will impose tariffs on a wide range of imports in the coming months, including steel, aluminum, oil, gas, pharmaceuticals and semiconductor technology.

From the Oval Office, Trump detailed that tariffs on oil and gas will take effect around February 18, without specifying the countries affected, and that similar measures will be applied to pharmaceuticals. He also advanced that steel, aluminum and copper imports will face new levies in the future, noting that the implementation of the copper tariff will take longer.

Market reaction and Trump's stance

Following the announcements, oil prices rose in afternoon trading. West Texas Intermediate crude futures rose to $73.33 in New York after closing at $72.53. Copper futures on the New York Stock Exchange temporarily pared their losses.

Despite this, Trump dismissed warnings about a possible inflationary impact, and assured that "tariffs do not cause inflation" and reiterating his commitment to measures that strengthen the economy and protect American workers.

Trade measures with Canada, Mexico and China

The White House press secretary, Karoline Leavitt, confirmed that the government will apply 25% tariffs on imports from Canada and Mexico, in addition to a 10% tax on Chinese products starting this Saturday.

According to the administration, these measures respond to the lack of cooperation from those countries to curb the trafficking of undocumented immigrants and the entry of illegal drugs, such as fentanyl. In addition, the government is assessing whether China has complied with the trade agreement reached in Trump's first term, which could result in new levies.