Insight
Oil and refining impact of US reciprocal tariffs – Update
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Report summary
On 2 April, President Trump issued sweeping tariffs by executive order to be implemented on 9 April. These tariffs applied a minimum rate of 10% to all trade partners, with some countries and sectors facing much more severe rates. These April “reciprocal tariffs” increased import duties on US imported goods to levels unseen since World War II.
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