Perry’s $29 Billion Wave-off Won’t Help Trump’s Energy and Trade Policies — Panjiva


Perry’s $29 Billion Wave-off Won’t Help Trump’s Energy and Trade Policies

Energy - Conventional 274 Energy - Refined Oil 149 Mexico 505 U.S. 3306 USMCA 374

U.S. Energy Secretary Perry has indicated his support for the new Mexican government’s aim to cut gasoline imports from the U.S. That’s somewhat surprising given the Trump administration’s focus on increasing energy exports and cutting the trade deficit with Mexico. Mexican imports of refined oil products climbed 26% on a year earlier in volume terms in 2Q and have increased steadily since 2016 due to reduced production by Pemex. U.S. suppliers including ExxonMobil and Tesoro accounted for 89% of the $29 billion imported in the past 12 months. A 63% increase in exports to Mexico from the...

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