President Donald Trump said he’d use tariffs if needed to protect the domestic oil industry as global crude oil prices crater.
Trump made the comment Saturday at a White House press briefing.
“If I have to do tariffs on oil coming from outside, or if I have to do something to protect thousands and tens of thousands of energy workers, and our great companies that produce all these jobs, I’ll do whatever I have to do,” Trump said.
Low oil prices are “going to hurt a lot of jobs,” he said.
On Friday Trump suggested he wasn’t inclined to target Russia or Saudi Arabia with oil tariffs.
“It’s a free market. We’ll figure it out,” he told reporters in Washington Friday after the gathering with the heads of Exxon Mobil Corp., Chevron Corp. and other major producers. “Ultimately the marketplace will take care of it.”