Saudi Aramco’s US ops may see “limited impact” from tariffs

Saudi Arabian Oil Co. (Saudi Aramco), the world largest oil exporter, said the potential US tariffs on imported steel and aluminum will have a limited impact on operations in the United States, chief executive Amin Nasser told CNBC.

The proposed tariffs will not affect the oil giant’s expansion plans in the US, he added.

“We do have plans for expansions in the US. We heard about the tariffs and we still are planning to proceed with the visibility study of this investment for our Port Arthur refinery,” he said.

President Donald Trump announced last Thursday he would impose hefty tariffs on imported steel and aluminum to protect US producers. The duties may reach 25 percent on steel imports and 10 percent on aluminum.

Earlier this week, the American leader said he would offer a conditional exemption on steel and aluminium import tariffs to Canada and Mexico if they renegotiated the NAFTA agreement.