Amid surging exports of pipeline natural gas from the United States to Mexico, and tension between the oil and gas industry and Mexico’s government, President Trump on Wednesday signed the United States-Mexico-Canada Agreement (USMCA) into law.
Articles from Trade
Amid surging exports of pipeline natural gas from the United States to Mexico, and tension between the oil and gas industry and Mexicos government, President Trump on Wednesday signed the United States-Mexico-Canada Agreement (USMCA) into law.
Plentiful oil production growth from countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC) should adequately supply “any likely level” of demand through 2020, helping to contain prices for consumers in a “vulnerable” global economy, according to the International Energy Agency (IEA).
Energy accounted for $25 billion, or about 8% of the value of all U.S. exports to Canada in 2018, led in large part by crude oil and natural gas, according to data compiled by the Energy Information Administration (EIA).
After months of negotiations, President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto on Friday signed a new trilateral trade agreement on the sidelines of the G-20 summit in Buenos Aires, Argentina.
Booming U.S. oil and natural gas production has exerted a “moderating” influence on the trade deficit and set the country on track to become a net oil exporter for the first time in decades, according to new research.
Mexico’s incoming government and the North American energy industry each gained victories through separate provisions in the updated free trade deal reached late Sunday by the United States, Mexico and Canada.
A new trade deal between the United States, Canada and Mexico is drawing support from the oil and gas industry, but overall it may have only a modest impact on the energy sector, according to analysts.
A trio of top U.S. business groups said it would be “unacceptable” to sideline Canada in any trade agreement that seeks to increase jobs and enhance the competitiveness of businesses across the United States.
Less than 24 hours after President Trump late Monday announced tariffs on $200 billion worth of Chinese products, Beijing responded in kind with $60 billion worth of taxes on American goods, including a 10% tariff on liquefied natural gas (LNG), as the Sino-U.S. trade war continued to escalate.