The U.S. Supreme Court ruled 6–3 that President Donald Trump exceeded his authority when he imposed certain tariffs under the 1977 International Emergency Economic Powers Act, which invalidated many of those duties. However, tariffs affecting key oilfield inputs—including steel, aluminum, and copper—remain in place because they were issued under Section 232 of the 1962 Trade Expansion Act, according to the Midland Reporter-Telegram.
Claudio Galimberti, chief economist at Rystad Energy, said the decision limits the government’s ability to target individual countries but does not remove the broader tariff framework, citing a continuing global tariff structure that could rise from 10% to 15%. Economist Ray Perryman told the Reporter-Telegram that while tariffs may be harder to maintain, other legal tools could be used, and he expects that any gradual reduction in tariff pressure could lower steel and equipment costs and support broader consumer and business activity—factors that can matter for energy demand and project economics. The American Petroleum Institute’s Aaron Padilla emphasized the value of predictable trade policy for market reliability.
Related Ranger coverage: Trump threatens tariffs if EU doesn’t buy more US oil and gas and Texas leads the charge as America sets new oil and natural gas records.
Source: Midland Reporter-Telegram
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