From Reuters LONDON (Reuters) – Oil prices fell on Monday after U.S. President Donald Trump said he would sharply raise tariffs on Chinese goods this week, risking the derailment of trade talks between the world’s two biggest economies. U.S. West Texas Intermediate (WTI) crude futures were at $61.68 per barrel at 1338 GMT, down 26 cents. WTI hit $60.04 earlier
Australian LNG producers could win from the US-China trade war From the Australian Financial Review China’s threatened tariffs on US liquefied natural gas imports could help Woodside Petroleum, Santos and Oil Search get more than $US25 billion of LNG projects over the line as the world’s fastest growing importer looks elsewhere for supplies to meet surging demand for cleaner fuel. All three companies
From Reuters Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals. The specter of tariffs on a further $200 billion of Chinese goods sent commodities lower along with stock markets, as tension between the world’s
From Reuters China’s omission of liquefied natural gas (LNG) from its vast list of U.S. products that face hefty import duties from Friday has preserved a potential weapon should the trade war with Washington deepen. It also underscores Beijing’s desire to ensure supplies of gas as it pushes to switch millions of households and businesses away from using coal as
From Reuters U.S. President Donald Trump announced hefty tariffs on $50 billion of Chinese imports on Friday as Beijing threatened to respond in kind, in a move that looks set to ignite a trade war between the world’s two largest economies. Trump, whose hard-line stance on trade has led him to wrangle with allies, said in a statement that a
From Reuters Europe will implement counter-measures against U.S. tariffs on steel and aluminum just like Canada, German Chancellor Angela Merkel said on Sunday, voicing regret about President Donald Trump’s abrupt decision to withdraw support for a G7 communique. Trump’s announcement on Twitter, after leaving the Group of Seven summit in Canada early, that he was backing out of the joint
From Reuters Mexico put tariffs on American products ranging from steel to pork and bourbon on Tuesday, retaliating against import duties on metals imposed by President Donald Trump and taking aim at Republican strongholds ahead of U.S. congressional elections in November. Mexico’s response further raises trade tensions between the two countries and adds a new complication to efforts to renegotiate
We believe the trade actions with the most significant potential economic and market impact have yet to unfold From PIMCO UK Consistent with our expectations back in January, the Trump administration has made trade policy a major focus in this midterm election year. It’s an issue that not only resonates with President Trump’s political base and has animated the president for
From Bloomberg India’s JSW plans investment of up to $500 million in Texas Planned expansion to target U.S. oil and gas industry, Latam India’s top steelmaker plans to triple output at its Texas plant as the U.S. and China trade punches in what may become an extended trade war, sparked by President Donald Trump’s tariffs on imports of the metal. The
From The Wall Street Journal As recently as 2009, nearly half the U.S. trade deficit was driven by one product: petroleum. If ever a national strategy could be devised to tackle the trade gap by targeting an individual product or individual set of countries, American dependence on foreign oil was on its face the place to look. The U.S. did,
From CNN/Money An oil industry CEO is warning President Trump that steel tariffs could threaten America’s energy boom. Trump’s proposed tariffs will jack up costs on the foreign steel that oil companies rely on for everything from drilling and production to pipelines and refineries. “This is going to make us less competitive against OPEC,” Dan Eberhart, CEO of oilfield services company
Canada and Mexico exempt for now; for rest of world tariffs go into effect in 15 days From The Hill President Trump on Thursday officially announced steep tariffs on imported steel and aluminum, defying his own party and delivering on a campaign promise to fight what he sees as unfair practices by U.S. trading partners. Trump ended a week of uncertainty by
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