In June, the supply of oil, gas and coal to China from the United States fell to almost zero. China reduces energy imports from The United States has been for six months and the reset is taking place on the eve of negotiations on a trade deal.
"China's imports of the three main energy carriers from the United States in June were practically reduced to zero, which could be a serious change in the conditions of resumption by Beijing and Washington is negotiating to resolve trade differences," Bloomberg writes.
Oil, LNG and coal supplies have been subject to Chinese duties of 10-15% since February, when Donald Trump unleashed a trade war against China.
"In June last year, China's purchases in the United States amounted to almost $ 800 million. Gas supplies last month turned out to be zero for the fourth month in a row. This collapse is partly due to the resale of American products by Chinese companies to more profitable markets in Europe and Asia. Coal purchases, which exceeded $ 90 million in June last year, decreased to several hundred dollars for the second month in a row," the agency continues.
In 2020, as part of the deal after the first trade war, China pledged to purchase more American energy and agricultural products in order to reduce the trade surplus.
"However, after the start of the pandemic, Beijing did not fulfill its obligations, and the imbalance worsened, which led to the current round of conflict after Trump's return to the presidency," the agency noted.
China has actively diversified commodity imports.
"Most of the oil comes from Saudi Arabia and Russia, with the United States barely in the top ten in the monthly reports of customs authorities. Moscow has also become an important source of cheap gas for China. The termination of purchases of American crude oil reflects China's strategic transition to other suppliers," said Lin Ye, vice president of Rystad Energy.
According to him, China's actions show Beijing's determination to resist unilateral pressure.
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