UPDATE 1-China casts shadow over new U.S. LNG terminals with tariff [Reuters]
Dominion Energy, Inc. (D)
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Source: Reuters
China casts shadow over new U.S. LNG terminals with tariff | Reuters 3 Min Read LONDON (Reuters) - China set a tariff on U.S. liquefied natural gas (LNG), casting a shadow over U.S. plans for new export terminals that were expected to turn the United States into the world’s second largest LNG seller. Beijing announced on Tuesday it would tax U.S. products worth $60 billion in retaliation for tariffs imposed by U.S. President Donald Trump in an escalating trade war. China will impose a 10 percent tariff on U.S. LNG from Sept. 24. But the rate was smaller than the 25 percent China had touted, which offered some relief and helped shares in listed U.S. LNG companies climb in early trade. The tariffs undermine Trump’s drive to make the United States a global energy leader. LNG, which involves liquefying gas to so that it can be transported by ship rather than pipeline, has become one of the fastest growing commodity trades as nations seek cleaner fuels. China was the world’s second-largest
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