Musical Chairs for Light, Sweet Crude in US-China Dispute

摘要

Traders marketing US crude are on the lookout for alternatives to Chinese buyers as Washington and Beijing are poised to hit each other with tariffs that will extend to the energy sector. The next round of US tariffs on $16 billion worth of goods from China is poised to hit after Jul. 31. Beijing has promised to respond and has said it will target US crude and oil and gas products with 25% tariffs - a step that could cost US crude producers their largest foreign customer. That hasn’t deterred the Trump administration. For all its support for the oil and gas industry, it is manufacturing and agriculture - not energy - that are at the forefront of Washington’s trade agenda.