By Benoît Morenne
U.S. energy consumers will bear most, if not all, of the impact of President Trump's tariffs, Jack Fusco, chief executive of Cheniere Energy, said on Monday.
"Unfortunately, it'll get reflected in the cost of goods sold," he said in an interview on the sidelines of the CERAWeek by S&P Global conference. "I don't think industry is gonna to be able to absorb it."
Fusco warned it's possible the U.S. economy may be headed toward a slowdown: "It wouldn't surprise me if the economy was overheated and ultimately ended up having to correct itself."
Cheniere is a major exporter of liquified natural gas that is pumped in the U.S. Trump this month imposed 10% tariffs on Canadian oil and natural gas products that don't meet the requirements of the U.S.-Mexico-Canada Agreement. Companies didn't claim USMCA status for $78 billion worth of Canadian crude oil that flowed into the U.S. last year. Drivers in the Midwest are particularly exposed to Canadian oil prices and tariffs, analysts say.
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March 10, 2025 14:45 ET (18:45 GMT)
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