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'Oligarchy': Trump exempts big oil donors from tariffs package -- The Guardian
https://www.theguardian.com/us-news/2025/apr/04/trump-exempts-big-oil-donors-from-tariffsTrump’s new 10% universal tariffs will not apply to many fossil fuel products in sign of his fealty, advocates say
The sweeping package of tariffs unveiled by Donald Trump on Wednesday includes an exemption for the energy sector, which is a clear sign of the president’s fealty to his big oil donors over the American people, advocates say.
Trump’s new 10% universal tariffs – which are higher for many major economies – are wreaking havoc on the global economy and are expected to increase consumer prices in the US. But the levies will not apply to many fossil fuel products, including liquefied natural gas imports, crude oil from Canada, and materials needed for making petrochemicals.
Oil interests celebrated the carveout: “We welcome President Trump’s decision to exclude oil and natural gas from new tariffs, underscoring the complexity of integrated global energy markets and the importance of America’s role as a net energy exporter,” Mike Sommers, head of the top US fossil fuel lobby group, the American Petroleum Institute, wrote in a social media post. “We will continue working with the Trump administration on trade policies that support American energy dominance.”
Sommers’ statement was circulated by the White House in a fact sheet on Thursday.
The exemption came after the fossil fuel industry poured $96m into Trump’s re-election campaign and affiliated political action committees, as he pledged to deregulate the sector and roll back environmental regulations. This was less than the $1bn Trump requested from the sector in an infamous meeting at his Mar-a-Lago club, but still constituted record levels of spending.
“Oil and gas billionaires just bought themselves an exemption from Trump’s tariffs,” Stevie O’Hanlon, spokesperson for youth-led environmental justice group the Sunrise Movement, said on Thursday. “While the rest of us have to deal with skyrocketing prices and rising temperatures, they’re sitting on their thrones and raking in billions. We need an end to this oligarchy now.”
. . .
Trump’s new 10% universal tariffs – which are higher for many major economies – are wreaking havoc on the global economy and are expected to increase consumer prices in the US. But the levies will not apply to many fossil fuel products, including liquefied natural gas imports, crude oil from Canada, and materials needed for making petrochemicals.
Oil interests celebrated the carveout: “We welcome President Trump’s decision to exclude oil and natural gas from new tariffs, underscoring the complexity of integrated global energy markets and the importance of America’s role as a net energy exporter,” Mike Sommers, head of the top US fossil fuel lobby group, the American Petroleum Institute, wrote in a social media post. “We will continue working with the Trump administration on trade policies that support American energy dominance.”
Sommers’ statement was circulated by the White House in a fact sheet on Thursday.
The exemption came after the fossil fuel industry poured $96m into Trump’s re-election campaign and affiliated political action committees, as he pledged to deregulate the sector and roll back environmental regulations. This was less than the $1bn Trump requested from the sector in an infamous meeting at his Mar-a-Lago club, but still constituted record levels of spending.
“Oil and gas billionaires just bought themselves an exemption from Trump’s tariffs,” Stevie O’Hanlon, spokesperson for youth-led environmental justice group the Sunrise Movement, said on Thursday. “While the rest of us have to deal with skyrocketing prices and rising temperatures, they’re sitting on their thrones and raking in billions. We need an end to this oligarchy now.”
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