The damaging first signs of an escalating trade war have emerged with China imposing a 15% tariff on US LNG and coal following the US 10% tariff on Chinese imports.
China’s Commerce Ministry said it will also impose export controls on some rare earths and metals that are critical for electronics. While China’s response has so far been more limited than the US’ moves, the implications for the US and global economy could be profound.
In an uncertain and fast-changing policy environment, yesterday President Trump climbed down on sanctions with Mexico and Canada, with discussions set to continue for the next month. Canadian operators and industry contacts told gasworld that helium would “likely” be subject to 25%, should tariffs go ahead.
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