What are Trump Cuba oil tariffs?

They are a proposed set of duties on countries that ship oil to Cuba. The goal is to pressure Havana economically. Mexico’s Pemex is most exposed because it supplied about 44% of Cuba’s 2025 imports. If implemented, tariffs could raise costs, redirect cargoes, and add short-term volatility to regional energy markets.

How could Mexico tariff risk affect Canadian energy?

Tariffs on Mexico-to-Cuba flows could redirect barrels and shift Gulf Coast demand. That can change heavy crude differentials that influence Western Canadian pricing. The ripple can move refinery runs, storage levels, and pipeline nominations, affecting cash flows and sentiment for Canadian producers and midstream names.

Are US Cuba talks likely to end the tariff risk soon?

Talks reduce odds of harsh measures but may not end risk quickly. Negotiations often move in steps, from signaling to targeted actions or carve-outs. Markets will price the path in real time. Watch official statements and shipping data for early signs of de-escalation or tightening.

What should I watch on ^GSPC today?

Focus on 6,866 as a support area and 6,980 to 7,002 as resistance. RSI near 57 suggests neither overbought nor oversold. Volume versus the 50-day average is key for conviction. Headlines on tariffs or talks could break the range and shift sector leadership.

Law and Government

^GSPC Today, February 02: Trump Cuba Oil Tariff Threat Puts Mexico on Edge

ByHuzaifa Zahoor February 2, 2026February 2, 2026

Trump Cuba oil tariffs are back in focus today, with Washington saying it is in talks with Havana. For Canadian investors, geopolitical risk meets market math. The S&P 500 ^GSPC prints 6,939.02, down 0.43%, within a 1-year range of 4,835.04 to 7,002.28. Mexico’s Pemex supplied 44% of Cuba’s 2025 imports, making Mexico tariff risk central to energy trade. We break down how sanctions chatter, US Cuba talks, and supply rerouting could feed volatility and sector moves in Canada.