According to Reuters on July 2, the U.S. government sent letters to two energy companies, Enterprise Products Partners and Energy Transfer, on that day, canceling previous restrictions on their exports of ethane to China.
It is reported that about half of the ethane produced in the United States was previously exported to China, mainly used in the petrochemical industry.
In late May and early June, the U.S. government had restricted exports of products such as ethane to China, citing "China's restrictions on the export of rare earth products." However, on June 25, the U.S. Department of Commerce revised part of its policy, stating that relevant producers and traders "could load ethane products onto ships bound for China, but could not unload them in China without authorization."
Natural gas processing plant of U.S. energy service company Enterprise Products Partners - Media
Previously, the U.S. and China had also reached a consensus on moderately expanding the export of rare earth products to the U.S. Reuters commented that the moves by both sides indicate that the "trade truce" between the U.S. and China is proceeding as planned.
Regarding the bilateral trade issues between the U.S. and China, the spokesperson for the Chinese Ministry of Commerce responded on June 27 when answering questions from reporters, stating: "Under the guidance of the consensus between the leaders of the two countries, the economic and trade teams of the two countries held economic and trade talks in London from June 9 to 10, reaching a principle agreement on implementing the important consensus from the phone call between the leaders of the two countries on June 5 and the framework for consolidating the results of the Geneva economic and trade talks."
"The Chinese side will legally approve export applications for controlled items that meet the conditions. The U.S. side will accordingly cancel a series of restrictive measures taken against China. We hope the U.S. will work in the same direction as China, further play the role of the Sino-U.S. economic and trade consultation mechanism according to the important consensus and requirements from the phone call between the leaders of the two countries on June 5, continuously enhance consensus, reduce misunderstandings, strengthen cooperation, and jointly promote the healthy, stable, and sustainable development of Sino-U.S. economic and trade relations," said the spokesperson of the Ministry of Commerce.
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