Some oil refineries will probably struggle to replace imported crude oil if President Trump imposes 25% tariffs on products from Canada and Mexico.

President Trump on Friday said the U.S. will impose tariffs on oil and gas imports, likely next month, as well as tariffs on CHIP semiconductor technology and pharmaceuticals eventually. "Eventually,

This could bring an enormous hit to oil traders, and national economic health. The Bank of Canada projected that, at worst, Trump's tariffs would knock off 2.5 percentage points of GDP growth, effectively pushing Canada into recession.