(Reuters) – U.S. energy and metals production could see a limited boost in the short run as a result of U.S. President Donald Trump’s trade and foreign policy plans, but a potentially bigger boost over the longer run, Goldman Sachs said in a note on Wednesday.
The investment bank expects that the 25% tariff on steel and aluminum will be largely transferred to US prices, it said.
“A 10% tariff on all oil imports would not significantly raise WTI and Brent crude prices, but would raise the annual cost of refined oil products by $170 per US household,” Goldman Sachs said.
(Reporting by Anmol Choubey in Bengaluru)
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