Tariffs on Canada, Mexico to hit some US refiners’ margins: S&P Global

The new tariffs on Canada and Mexico could raise the cost for US refining firms that process Canadian and Mexican crude slates, S&P Global Ratings said.
It feels this will lead to higher costs for US refined products and squeeze refining margins.
Certain speculative-grade rated refiners concentrated in the US Midwest could see credit ratios and liquidity deteriorate if tariffs continue longer.