Trump’s Tariffs Are Here: The Wholesale Energy Market Takes the Hit

Markets barely had time to brace before Trump made good on his threats. 25% tariffs on Canada and Mexico. 10% on China. 10% on Canadian energy. And a clear warning that Europe is next. As trading opened on Monday, global stocks plunged, the dollar surged, and oil prices jumped. The energy world has just been thrown into another period of instability, and wholesale markets are already feeling the heat.

This isn’t just a short-term panic. Trump’s tariffs on Canadian oil, combined with the broader market reaction, could fundamentally shift global energy flows, pushing up costs for gas, oil, and electricity across the UK and Europe.