The tariffs sent global markets plunging and is expected to have a drastic impact on U.S. consumers and industries. Despite President Donald Trump’s claim that tariffs will boost domestic production,

The levies are expected to drive up costs for U.S. companies that rely on renewable energy technology from abroad and scramble supply chains worldwide.

President Donald Trump is pushing for countries to purchase more U.S. energy to reduce their trade surpluses and potentially avoid higher tariffs. Treasury Secretary Scott Bessent has pointed to a potential investment by Asian allies in a major LNG project as an example of what the White House is seeking.