Thailand Joins Countries Looking to Hike U.S. LNG Imports to Avoid Tariffs | OilPrice.com
document.write(write_html);
}
Breaking News:
Thailand is the latest Asian economy looking to import higher volumes of American energy as a way to convince the U.S. Administration not to slap high tariffs on Thai goods sold in the United States.
Thailand plans to raise its U.S. LNG imports over the next five years, Finance Minister Pichai Chunhavajira said on Wednesday.
document.write(write_html);
}
Delegations from many Asian countries are heading to Washington D.C. these days to discuss the U.S. tariffs, now suspended for 90 days, which hit the most economies in Asia and Southeast Asia, including Thailand.
The tariff on Thailand, which U.S. President Donald Trump announced on the so-called “liberation day” on April 2, was as much as 36%–one of the highest among all economies and jurisdictions.
Thailand already has a deal to buy 1 million metric tons of LNG, worth $500 million, in 2026 as part of a 15-year-long term deal, the Thai minister was quoted as saying by Reuters.
Thailand will also seek another LNG deal over the next five years, worth $600 million, as well as importing ethane from the U.S., worth about $100 million over the next four years, according to the energy minister.
Earlier this week, Indonesia, threatened with a 32% tariff, said it would offer to buy an additional $10 billion worth of American oil and liquefied petroleum gas (LPG).
Indonesia is just one of the countries looking to buy their way out of steep tariffs with deals to purchase American energy products.
South Asian nation Pakistan is actively considering the idea of importing U.S. crude oil for the first time to seek a reduction of its trade surplus with America.
South Korea is reportedly looking at more LNG imports to get Washington to drop the tariffs, while India is weighing the option to scrap its import tax on American liquefied natural gas to increase U.S. LNG imports and reduce its trade surplus with the United States.
By Tsvetana Paraskova for Oilprice.com
More Top Reads From Oilprice.com
Join the discussion | Back to homepage
document.write(write_html);
}
FACEBOOK
Twitter
GOOGLE+
LINKEDIN
REDDIT
PRINT
document.write(write_html);
}
EXXON Mobil
-0.35
Open57.81
Trading Vol.6.96M
Previous Vol.241.7B
