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China imposes 10% tariff on US LNG
Oil & Gas Journal: China imposed a 10% tariff on LNG imports from the US, describing the measure as a response to the latest US tariffs on $200 billion of Chinese goods. The 10% tariff, which includes other products as well to affect $60 billion worth of trade, will go into effect Sept. 24, according to China’s ministry of commerce.
The tariffs were less than the 25% rate publicly contemplated by China in August 2018. Crude oil was excluded from the latest tariff announcement.
China’s LNG tariffs, given the size of its market, could hinder development of a second wave of US LNG export projects as final investment decisions approach by making LNG from other export regions more attractive.
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