Latest Trade War Shot Sends Oil Prices Lower

OilPrice · Irina Slav · last updated April 9, 2025 – 11:30 PM

Crude oil prices resumed their downward trajectory today after jumping higher on news that most trading partners would get a 90-day pause on tariffs. President Trump’s decision to double down on his tariff offensive against China, raising the total tariff burden on Chinese goods to 125%, effective immediately, has added to bearish sentiment. The move followed China’s announcement of 84% tariffs on U.S. goods in response to Trump’s initial tariffs. Beijing has said it would “fight to the end”. Amid these developments,…

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