Business Rundown: Biden’s Offshore Oil Ban & Trump Tariffs Narrow In Scope

On Monday, President Biden announced executive action to ban new offshore oil and gas drilling on more than 625 million acres of American coastline, which is directly at odds with the incoming Trump administration’s agenda to increase domestic energy production.

Meanwhile, new reporting suggests that the planned Trump tariffs may be narrowing in scope to focus on certain critical sectors rather than applying to all imports across the board.

FOX Business correspondent Gerri Willis speaks with Payne Capital Management President Ryan Payne about the impact these headlines are having on the market, 2025’s strong start for Wall Street, and a speedbump in the labor market.

Photo Credit: AP

Learn more about your ad choices. Visit podcastchoices.com/adchoices