Oil Daily | Chinese Tariffs on US Crude Oil and LNG Go Into Effect Amid Escalating Trade Tensions

【Latest Oil Policies】

President Donald Trump announced 25% tariffs on all steel and aluminum imports to the U.S., aiming at countries with existing import duties on U.S. goods. This move is expected to strain relations with major suppliers like Canada, which is the largest source of U.S. steel and aluminum imports. The tariffs are part of Trump’s broader trade strategy involving reciprocal measures.

【Others】

Taiwan expressed interest in increasing its purchases of U.S. liquefied natural gas, particularly from Alaska, amid concerns over potential tariffs on countries with trade surpluses with the U.S. This follows Japan’s similar interest in Alaskan LNG to avoid tariffs, with JERA and Mitsui showing willingness to invest in the project aimed at exporting LNG to Asian markets.

Chinese tariffs on U.S. imports, including crude oil and LNG, have gone into effect as planned, despite a pause on other tariffs, marking an escalation in trade tensions. This comes after a 30-day suspension of tariffs on Canadian and Mexican goods in response to their commitments to bolster border control.