Oil prices were lower in early Tuesday trade, as investors, and the world, try to ingest President Trump's plans to apply new tariffs later than expected while boosting oil and gas production in the United States.  West Texas Crude was trading around $75 per barrel in early hours, down more than 2%.  Brent Crude was down over 1.5% to $78 per barrel.  In addition, oil prices are feeling pressure from a strong U.S. dollar, that's only getting stronger, making oil more expensive. 

 

Trump said he's thinking of imposing 25% tariffs on imports from Canada and Mexico from February 1st, rather than on his first day in office.  The President did not impose any sweeping new trade measures right after his inauguration on Monday, but told federal agencies to investigate unfair trade practices by other countries.

 

Remember to join us Tuesday mornings for your PNW Ag Network Price at the Pump.

 

If you have a story idea for the PNW Ag Network, call (509) 547-1618, or e-mail glenn.vaagen@townsquaremedia.com 

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