Upon returning to office, U.S. President Donald Trump has launched numerous tariff threats. They range from broad ones - a universal tariff on foreign-imported goods - to ones aimed at specific sectors,

Trump has repeatedly insisted that tariffs are coming on Canada and Mexico, despite both countries seeking to address his stated concerns about illegal border crossings and the smuggling of fentanyl. But the Republican president is also motivated by the idea that tariffs would force other countries to “respect” the United States.

Oil prices rose in early trade but continue to be under pressure amid risk-off sentiment across global markets and U.S. tariff threats.