China is set to impose tariffs on US crude oil, liquefied natural gas (LNG), and other imports starting February 10. The move comes after the US imposed tariffs on Chinese goods in January.
Oil traders are expected to seek waivers for tankers that have already been booked for US oil shipments to China. However, new deals may face difficulties in getting approvals.
Chinese state-owned refiner Unipec, one of the largest buyers of US oil, plans to switch its oil exports from the US to other destinations such as Korea and Japan to avoid tariffs.
The 15% tariff on LNG imports will likely lead to a sharp decline in US LNG flows to China, with shipments favouring European and alternative Asian destinations.
Source: https://www.reuters.com/business/energy/oil-gas-traders-seek-tariff-waivers-beijing-us-imports-sources-say-2025-02-06