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Various industries continue to face tariff pressures from President Trump's latest trade policies despite their potential exemptions under the USMCA (United States-Mexico-Canada Agreement, established in 1994).
Nelson Cunningham — former senior advisor to the Clinton, Obama, and Biden administrations — joins Catalysts hosts Madison Mills and Seana Smith to share his insights on the matter.
Cunningham explains that aside from the auto industry, commodities like oil (CL=F, BZ=F) and gas (RB=F) could also be significantly impacted by tariffs targeting Canadian energy.
"We import something like $200 billion a year of oil and gas from Canada, and tariffs on that are huge. [They] have a huge impact on oil and gas prices all across the northern border of the United States," he says.
Cunningham also emphasizes the historical commitment the US made to maintain low tariffs with Mexico and Canada, stating, "The United States made a promise to Mexico and Canada nearly 30 years ago that we would keep our tariffs on each other low."
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"We would put stability into the relationship so that people and businesses and governments, on both sides of our borders, could build their futures [and] secure the knowledge that they would have access to the largest market in the world, the North American market," he adds.
To watch more expert insights and analysis on the latest market action, check out more Catalysts here.
This post was written by Josh Lynch