Mounting China Tensions Risk $52 Billion in U.S. Energy Sales

[Yo_Mama_Been_Loggin]

(Bloomberg) -- China is already lagging behind its promise to buy $52 billion worth of U.S. oil, gas and other energy products, and analysts warn that rising tensions between Washington and Beijing jeopardize additional sales.

Data tracking trade in March and April indicate “China could be well short of its purchasing obligations for politically important agriculture products and energy goods,” ClearView Energy Partners LLC said in a research note to clients late Wednesday. “President Trump might see more political upside in scapegoating China for the spread of Covid-19 than preserving the compact.”

Under the Phase One trade deal inked in January, China agreed to buy an extra $18.5 billion of U.S. crude oil, coal and other energy products this year, with purchases increasing to $33.9 billion in 2021. However, China Customs data analyzed by ClearView show that for the 12-month period ending in April, the country imported only $3.6 billion in coal, oil, petroleum coke and other energy products from the U.S.

Those sales took place before intensifying U.S.-China friction stoked by the coronavirus pandemic.

https://finance.yahoo.com/news/mounting-china-tensions-risk-52-184157014.html

Mr. Art of the deal.

[Iliyah]

1. But it won't stop China making shitehole and family's . . .

cheap stuff, i.e. maga red hats, et al.

[KY_EnviroGuy]

2. Perhaps purchases dropped drastically due to China's pandemic lockdown...

and not necessarily political trade tensions........