President Trump has been a boon to the U.S. oil and gas industry since he took office last January,...: President Trump has been a boon to the U.S. oil and gas industry since he took office last January, but his tough stance on trade the couple of past month threatens to reverse the substantial progress that’s been made. Make no mistake, Trump’s tariffs on foreign steel and escalating trade tensions with China put America’s surging energy sector at risk.