President Trump's trade war officially commenced with tariffs on all Chinese imports. While tariffs against Mexico and Canada were temporarily paused following their concessions, the potential for these tariffs remains. Global markets have already reacted, with China's retaliatory measures, including taxes on U.S. coal, natural gas, and crude oil. The U.S. energy sector, reliant on international trade, is notably vulnerable, as these tariffs jeopardize oil and gas exports. Kelly Sims Gallagher emphasized the retaliatory nature of trade wars and highlighted the risks to U.S. energy exports amidst these escalating disputes.
"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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