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Saudis Reap Benefit From U.S.-China Trade War

  • Saudi-China shipments this year are already 90% of 2017 volume
  • Knock-on effect means Asia seen paying higher contract prices
Bloomberg business news
What Trump's Trade War Really Means

Saudi Aramco is winning thanks to U.S. President Donald Trump’s trade war with China.

Sales of liquefied petroleum gas by the state-run producer to China -- one of its biggest Asian customers -- this year have already reached 90 percent of all shipments in 2017, according to data from tanker-tracking and intelligence firm Kpler. That’s because buyers in the Asian nation are seeking alternatives to American cargoes as a trade war between the world’s two biggest economies escalates with tariffs targeting billions of dollars worth of products.