Mounting China Tensions Risk $52 Billion in U.S. Energy Sales
- Trade data show China falling behind pledge to buy from U.S.
- Intensifying friction has oil and gas industry leaders nervous
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China is already lagging behind its promise to buy $52 billion worth of U.S. oil, gas and other energy products, and analysts warn that rising tensions between Washington and Beijing jeopardize additional sales.
Data tracking trade in March and April indicate “China could be well short of its purchasing obligations for politically important agriculture products and energy goods,” ClearView Energy Partners LLC said in a research note to clients late Wednesday. “President Trump might see more political upside in scapegoating China for the spread of Covid-19 than preserving the compact.”