Goldman Sachs said on Friday a proposed 10% U.S. oil tariff could cost foreign producers $10 billion per year, as Canadian and Latin American heavy crudes remain reliant on U.S. refiners due to limited alternative buyers and processing capabilities. President Donald Trump plans to impose a 25% tariff on Mexican crude and a 10% levy on Canadian crude starting in March, a delay from his initial proposal. Despite this, Goldman expects the U.S. to remain the primary destination for heavy crude, as advanced refining capabilities and low costs continue to make American refiners the most competitive buyers.