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Analysts Say Trump Trade Wars Would Harm the Entire US Energy Sector, From Oil to Solar
US renewables stand to lose big in a trade war, but the sting extends to oil and other energy industries, say researchers from Wood Mackenzie.
Even the oil and gas industry, which has close ties to the Trump administration, would face falling prices for its products at the same time that the costs of much of its equipment are rising because of tariffs. The short version is that Trump and his advisers believe that tariffs will help the US economy by encouraging construction of factories here, reducing trade deficits and punishing barriers to entry of US products in other countries. Adding to the chaos is that the policies frequently change, with the president often announcing shifts on social media, as happened in recent days on tariffs on the European Union.
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