President Trump’s trade war has officially commenced, with tariffs imposed on all Chinese imports. While tariffs against Mexican and Canadian goods were postponed following last-minute concessions, there remains uncertainty regarding their significance and the potential for future tariffs. The initial reactions have already stirred global markets, with China retaliating through its own levies. The U.S. energy sector, especially vulnerable due to its reliance on global trade for fossil fuels and renewable energy components, is particularly affected. Experts emphasize the broader geopolitical and economic ramifications as multiple countries engage in tit-for-tat actions.
One thing about trade wars is that other countries often hit back. Already, China has announced a new 15 percent tax on coal and natural gas imported from the United States.
We have U.S. oil and gas exports going all over the world now, and those are in jeopardy, Sims Gallagher said.
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