International Trade News

U.S. Oil Likely in China’s Cross Hairs as Trade War Deepens

Aug. 6, 2019, 12:25 PM

China is expected to start avoiding U.S. crude oil imports as trade tensions ratchet up, according to traders and analysts, entangling a key commodity that has largely escaped the tit-for-tat trade war.

After escalating tensions over the past week, some Chinese buyers will likely begin reducing purchases of oil from the U.S. in anticipation that Beijing will impose tariffs, according to traders who supply American oil to China, asking not to be identified due to company policies.

Retaliatory levies on U.S. natural gas and soybeans have already choked off China’s imports of those commodities. Adding crude oil to the mix...

To read the full article log in. To learn more about a subscription click here.