As the leaders of the world’s two largest economies meet in Beijing, energy markets will be watching closely for any breakthrough in a dispute that has reshaped global fuel flows: China’s tariffs on US oil and gas. Shortly after President Donald Trump announced sweeping tariffs in February last year, Beijing retaliated with levies on US energy — 15% on liquefied natural gas and 10% on crude oil. T...
As the leaders of the world’s two largest economies meet in Beijing, energy markets will be watching closely for any breakthrough in a dispute that has reshaped global fuel flows: China’s tariffs on US oil and gas. Shortly after President Donald Trump announced sweeping tariffs in February last year, Beijing retaliated with levies on US energy — 15% on liquefied natural gas and 10% on crude oil. The result was an almost immediate halt in imports of both fuels. In theory, the US and China should be natural energy partners. The US is the world’s largest LNG exporter and top oil producer, while China is the biggest buyer. Now, the Middle East crisis may be shifting the calculus. The closure of the Strait of Hormuz has disrupted roughly a fifth of global oil and seaborne gas exports, driving prices higher. For LNG, China has been forced to sharply reduce imports following disruptions to Qatari supply, which accounted for about 30% of its deliveries last year. That could create an opening for US fuel to fill part of the gap. A thaw would also benefit the US, where LNG developers are racing to secure long-term buyers. Chinese demand, with its scale and relative consistency, is viewed as critical to underpinning multi-decade export projects. “China offers the world’s most predictable demand growth, providing the scale needed to anchor these US infrastructure investments,” Liu Jia, chief expert at the Economics & Technology Research Institute, a think tank at China National Petroleum Corp., told China Daily. LNG could be one area where China meaningfully increases purchases as a result of the presidential summit. US export capacity is set to double by 2030, and Chinese companies such as CNPC already hold long-term contracts with existing projects. If Beijing drops its tariffs, buyers could opt to absorb those cargoes domestically instead of diverting them to Europe and other Asian buyers, which is the resale strategy they adopted after the levies were imposed. Existing Cont...
Sarah Beran, Former US Embassy Deputy Chief of Mission in Beijing and Partner at Macro Advisory Partners, says both Washington and Beijing have significantly lowered their expectations for the summit. She shares her outlook on the highly anticipated meeting between the world’s two largest economies. She speaks with Shery Ahn and Haidi Stroud Watts on "Bloomberg: The Asia Trade". (Source: Bloomberg...
Sarah Beran, Former US Embassy Deputy Chief of Mission in Beijing and Partner at Macro Advisory Partners, says both Washington and Beijing have significantly lowered their expectations for the summit. She shares her outlook on the highly anticipated meeting between the world’s two largest economies. She speaks with Shery Ahn and Haidi Stroud Watts on "Bloomberg: The Asia Trade". (Source: Bloomberg)
Faced with rising costs and a lack of jobs, many young Indians are turning an online side hustle into an income The work begins at sunrise, ahead of her first Instagram post. Astha Chhetri starts the day on her phone, combing through supplier lists, checking shipment updates and preparing stock for her online store. The evenings find Chhetri, 26, with her mobile still in hand, photographing and po...
Faced with rising costs and a lack of jobs, many young Indians are turning an online side hustle into an income The work begins at sunrise, ahead of her first Instagram post. Astha Chhetri starts the day on her phone, combing through supplier lists, checking shipment updates and preparing stock for her online store. The evenings find Chhetri, 26, with her mobile still in hand, photographing and posting reels of clothes for sale and replying to customer messages. Continue reading...