Beijing has “turned away” from Washington for the roles and “moved” to Moscow, which, after a boycott of Europe, reduced its gas price.
China has completely stopped buying natural gas in the United States after the introduction of a 15% tariff for LNG supply on February 10. At the same time, China expanded purchases in Russia, which last year put four times more fuel than the United States. This was reported by the New York Times.
According to China’s customs service, Chinese imports from the United States have fallen to a low level from November to January.
Only two cargoes from LNG from the United States were sent to China when Beijing introduced tariffs for American fossil fuel in response to the first round of 10% of tariffs for Chinese goods introduced by US President Donald Trump.
The publication records that the boycott of natural gas from Russia after the entire -scale Ukraine aggression in 2022 meant that Russia’s fuel was sold at a very low price, while European companies were paying more for gas from other countries, including the United States.
Thus, Chinese companies have the opportunity to buy a lot of gas at a low price in Russia, and not the United States.
Nyt recalled that the LNG supply from USA to China when it grew after signing a trading agreement between Beijing and Washington in January 2020. The agreement contained China’s promise to increase American fuel purchases, but not necessarily for use in China. They then fell intensely in 2022, as American gas went to Europe at high prices after the decision of the European people not to buy Russia’s gas.
As we have written, China suggested that the EU unite against Trump. The total relationship with China’s trade and the EU forms more than one third of the world’s general trade.
However, China subsequently urged Trump to cancel duties and “right mistakes.”
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.