New Trump administration tariffs on imported goods could exacerbate a shortage of parts used by the energy industry

Imports of energy products like oil and gas were largely spared from President Donald Trump’s sweeping tariffs issued Wednesday afternoon. Trump, who declared Wednesday “Liberation Day,” announced he would be imposing a baseline 10% tariff on all exports to the United States,

U.S. President Donald Trump smashed a more than 75-year-old global trading system with a new baseline 10% U.S. tariff on goods from all countries and higher reciprocal tariff rates for countries that his administration says have high barriers to U.