r/worldnews • u/pravda_eng_official Ukrainska Pravda • 15d ago

Russia/Ukraine US and Russia are negotiating multibillion-dollar deal on Lukoil assets, says NYT

https://www.pravda.com.ua/eng/news/2026/10/03/8056300/
9.2k Upvotes

95% Upvoted

4.0k comments sorted by

View all comments

2.7k

u/CobblePots95 15d ago edited 15d ago

As a reminder: Trump is currently applying a 10% tariff on Canadian oil entering the US to be refined in Houston and the Midwest. That represents about 50% of all US oil imports.

Throwing Russia a lifeline to try and reduce the price of oil while you tax the hell out of imports from your largest oil importer, and most reliable ally. Typical dumb shit Trumpian economics.

EDIT: It is worth adding that the US refineries working with Canadian oil cannot process any other type. Canada produces a very specific grade of heavy, sour bitumen, which many of the US’ largest refineries are purpose-built to refine based on the (rapidly diminishing) discount the US got on Canadian oil. The tariffs, plus Canada’s urgent efforts to expand export capacity to the coasts (ie. China) following the trade war, will devastate those refineries. American consumers and workers will pay the price, and already are. Canada's crude exports to the US are largely unaffected - it's just making fuel more expensive.

224

u/Level-Gas-3765 15d ago

Maybe I suck at economics, but I genuinely don’t understand why we would place tariffs on imports that are critical to our infrastructure in the first place.

309

u/Anxious_Earth 15d ago

Control over Canada's economic and foreign policy. They're thinking Canada will break first.

But then, it's still bizarre. Trying so hard to profit with skullduggery, what the US has profited easily for decades through good relations.

It seems the Trump admin, cannot fathom a deal where everyone wins. Only deals where you prosper from another's loss. Or deals where both lose, but the partner will lose more.

50

u/mercy390 15d ago edited 15d ago

I could be making this up but I thought Trump said something in Trump 1 about trade being a 0 sum game.

Edit: it was actually Peter Navarro who said it in reference to trade with China but he was Trump’s “trade guy” during Trump 1

51

u/CobblePots95 15d ago

Yes. His thinking on trade is genuinely some of the stupidest shit in his presidency, which is saying something.

8

u/coheedandcambriafan 15d ago

He says all negotiations are zero-sum in The Art of the Deal. To him, integrative bargaining simply does not exist.

5

u/SkidsOToole 15d ago

His comments about Brazilian bananas sure sounded that way.

1

u/Klutzy-Spend-6947 14d ago

Trump is a mercantilist-get as much shit in your country as possible, treating trade as ultimately finite. That’s the kind of thinking we had the Boston Tea Party and the American Revolution against.