4 Aug, 2018

The main blow will have to China

This week, representatives of the US presidential administration began talking about imposing not 10%, as stated earlier, but 25% duties on Chinese goods for $ 200 billion. Now in Washington they compose their list (after in the beginning of July the US and China imposed duties on $ 34 billion, the announced restrictions for another $ 16 billion have not yet been introduced).

The State Council’s statement says that it is preparing response fees in 5%, 10%, 20% and 25%, “the introduction of which will depend on US actions, and China reserves the right to apply other countermeasures.”

Among the American goods, which will affect duties, small and medium-sized aircraft, LNG, soybean oil, timber, auto parts. The LNG duties will be a serious blow to the plans of US companies intending to expand export capacities in the hope of increasing supplies to China, which is the second largest LNG import company in the world and the third one – for purchases of US gas.

“If these duties are introduced, other producers will gladly fill the niche that has formed. We will miss an incredible opportunity, and this will have serious consequences for the US LNG industry, “Charlie Riddle of the Center for LNG, representing the industry, told the Financial Times.

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