Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
DENVER (AP) — The head of a prominent U.S. energy trade group says President Donald Trump's tariffs on European steel and Chinese goods pose a multibillion-dollar threat to America's energy industry.
But the American Petroleum Institute's Jack Gerard said Thursday he hopes the escalation of trade rhetoric and sanctions with the U.S.' trading partners will ease.
Gerard says tariffs on European steel will drive up the cost of specialized steel imports used for U.S. oil and gas pipelines. China has warned it may slap tariffs on growing U.S. oil and natural gas exports to retaliate for U.S. trade sanctions.
Gerard says he hopes the trade truce reached Wednesday between the United States and Europe is a sign of things to come.
Gerard appeared at an energy round table in Denver.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
