Trump is pursuing a trade war with allies Mexico and Canada that the API has publicly opposed, in part because the two US neighbors are its top sources of imported crude oil.
Trump already imposed tariffs on imported crude from Canada and Mexico but issued exemptions for producers who can prove they comply with the trade agreement between the three countries, the United States-Mexico-Canada Agreement.
Last month, in response to the tariffs, API CEO Mike Sommers said, “Energy markets are highly integrated, and free and fair trade across our borders is critical for delivering affordable, reliable energy to US consumers.”
API has publicly released a five-point energy plan for Trump and congress to follow that includes permit reform, boosting offshore oil leasing, protecting tax credits for carbon capture and hydrogen production and rolling back subsidies for electric vehicles.
(Reporting By Jarrett Renshaw; additional reporting by Sheila Dang in Houston, and Nandita Bose and Andrea Shalal in Washington; Editing by Nia Williams and David Gregorio)