US President Trump hits Canada on trade, says Hormuz Oil keeps flowing
US President Donald Trump held a press conference at the White House, in which he insisted that Canada has been ripping off the US on trade and that it wants to be “treated like a state.”
On Thursday, US President Donald Trump addressed the nation from the White House, criticizing Canada's unfair trade practices and urging the nation to be "treated like a state." Trump also discussed the ongoing oil trade through the Strait of Hormuz, stating that "millions of barrels of Oil are coming through Hormuz daily." Canada's aggressive trade tactics were a significant topic of concern for the President.
In response, the US has proposed imposing substantial tariffs on Canadian cars, indicating that Canada is "the worst to deal with on trade." Trump has had positive interactions with Russian President Putin, expressing confidence that Putin will not attack NATO territory. As for Iran, Trump warned that Iran is "in big trouble." While the oil market may seem stable, diesel prices are experiencing a significant surge, with the US diesel crack spread, which measures the premium of ultra-low sulphur diesel futures over WTI, recently reaching a record high of over $102.00 per barrel.
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