America is disheartened! No matter how cheap the natural gas is, we won't buy it. Now America has completely given up hope! According to a report by Russia's Sputnik News on April 18, Russian media reported that due to the China-US trade war, China has suspended the purchase of American liquefied natural gas (LNG). Sources familiar with the situation said that the cessation of LNG imports from the US may last for a long time, and China might increase its purchases of Russian natural gas.
To be honest, this news exposed by Russian media must be very frustrating for America. After Trump escalated the trade war to its extreme, American LNG has lost any price attractiveness to us. It is expected that we will not purchase American LNG temporarily, which should also be within the anticipated range. However, after imposing additional tariffs on countermeasures against the US, we added a ban on importing American LNG. What does this mean?
This means that even if China and the US reach an agreement on tariff issues, we may not resume imports of American LNG in the near future. In other words, no matter how cheap American natural gas becomes, we are not interested. And the market left by the US will likely be filled by countries such as Russia and Qatar. Undoubtedly, the suspension of imports is much more serious than imposing additional tariffs.
In fact, since Trump took office, the US has withdrawn from the Paris Climate Agreement. Trump is full of ambition to revitalize America's traditional energy industry. After the tariff war escalated, our announcement to stop buying American LNG was undoubtedly a bucket of cold water for America, especially since China is such a large energy consumption market, and the US will have no access to it. Without a doubt, we are using actions to tell America why the trade war has no winners, and this is entirely self-inflicted by the US.
Original article: https://www.toutiao.com/article/1829736120201226/
Disclaimer: The article solely represents the author's personal views.