1. The Trump-led Trade War with China: Energy Dominance Self-destructed?
- Author:
- Sylvie Cornot-Gandolphe and Jean-François Boittin
- Publication Date:
- 09-2018
- Content Type:
- Special Report
- Institution:
- Institut français des relations internationales (IFRI)
- Abstract:
- Under particular US legal rationale, such as calling foreign imports a “national security threat”, President Donald Trump has started imposing tariffs and/or quotas and has launched national security investigations on a growing number of imported goods from US allies and others alike.In March and June 2018, the US imposed tariffs or quotas on steel and aluminium on all trading partners, but Australia. In July and August 2018, the US began imposing tariffs on $50 billion in Chinese industrial goods on the ground of unfair trade practices. As China has retaliated with tit-for-tat measures, President Trump has imposed tariffs on $200 billion in Chinese goods from 24 September 2018 onwards, and in an unprecedented escalation of his trade war with China, he has also threatened to impose tariffs on an additional $267 billion in Chinese goods. If eventually carried out, Trump’s latest threat could result in tariffs on all Chinese goods entering the US. China has retaliated and imposed tariffs on $60 billion in US goods, including a 10% duty on liquefied natural gas (LNG). For the time being, trade tensions have had a limited impact on the energy market. But the new round of US tariffs and retaliation measures by China suggest that this is going to change.
- Topic:
- Climate Change, Energy Policy, International Trade and Finance, Gas, Renewable Energy, and Coal
- Political Geography:
- China, Asia, North America, and United States of America