Trump says will do 'substantial tariffs' if oil price remains where it is

U.S. President Donald Trump said on Sunday he would do "very substantial tariffs" if the oil price stays the way it is, although adding that he did not think he would need to.

A month-long price war between Saudi Arabia and Russia against the backdrop of the novel coronavirus outbreak has cut the price of Brent crude oil to about $32 a barrel, down from around $65 at the end of last year.