China Slaps Tariff on US LNG as Trade War Escalates

摘要

The oil industry suffered its most direct blow from the US-China trade war on Tuesday after Beijing slapped a 10% tariff on US LNG in retaliation to the Trump administration’s levies on another $200 billion of Chinese goods. US crude oil was spared but it remains another arrow in Beijing’s quiver as the escalating trade dispute between the world’s two largest economies shows no signs of slowing. LNG was on a list of $60 billion of US goods that China said it would impose tariffs of 5%-10% on after the Trump administration moved forward with its latest trade action. Both sides say they will implement the new levies starting next week.