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1 1 (January 21, 2025)

handle is hein.crs/govesdp0001 and id is 1 raw text is: U.S. Petroleum Trade: Crude Oil Imports from Canada and Mexico and Potential Tariffs January 21, 2025 The United States engages in petroleum trade with Canada and Mexico, including imports and exports of crude oil and petroleum products (e.g., gasoline and diesel fuel). Generally, this trade is motivated by factors including geographic proximity, refinery configurations, crude oil quality, and an integrated pipeline network. Most U.S. petroleum imports from Canada and Mexico consist of crude oil. During calendar year 2023, U.S. refineries imported approximately 6.5 million barrels per day (BPD) of crude oil, which is currently subject to tariffs. Canada and Mexico supplied more than 71% of U.S. crude oil imports, with nearly 60% of U.S. crude oil imports from Canada alone. On November 25, 2024, then-President-elect Donald J. Trump announced his intention to impose a 25% tariff on imports from Canada and Mexico. Additionally, President Trump has repeatedly expressed his intention to impose a 10%-20% tariff on all imports. President Trump's stated intent to impose duties raises questions about how higher tariffs, should they be imposed, might affect the U.S. crude oil market and consumer fuel prices. Crude Oil Imports: Canada and Mexico Refineries purchase crude oil to produce gasoline, diesel fuel, and other petroleum products. Refineries in each Petroleum Administration for Defense District (PADD)-state groupings used for petroleum analysis-currently import crude oil produced in either Canada or Mexico or both (see Figure 1). Crude oil imports from Canada-most of which are produced in Alberta-are delivered by various modes, but mostly by pipeline to refineries located in PADDs 2, 3, 4, and 5. Crude oil imports from Mexico are mostly delivered by maritime vessels to PADDs 1, 3, and 5. Refineries in each PADD have unique trade relationships with Canada and Mexico. Considering crude oil import volumes and percentages, refineries and petroleum product prices in PADDs 2 and 4 could be impacted the most by higher tariffs (see bar charts in Figure 1). Congressional Research Service https://crsreports.congress.gov IN12488 CRS INSIGHT Prepared for Members and Committees of Congress

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