China-US trade war heats up
Energy isn't at the core of current trade tensions, but US exports could emerge as a bargaining tool as the spat moves toward negotiations
US President Donald Trump has insisted on Twitter that the US is not engaged in a trade war with China, but the severity of this week's opening salvos suggests that economic tensions between the countries are more likely to expand than contract in the coming weeks and months. Washington struck first by placing 25% tariffs on $50bn's worth of Chinese imports, as Trump at last followed through on a consistent theme of his protectionist campaign rhetoric. But Beijing quickly shot back with tariffs of its own on a range of US goods including soybeans, beef, chemicals and cars, aiming to inflict not just economic damage on the US but also political injury to Trump. Markets tumbled in response on
Also in this section
2 December 2024
Crucial role of gas means country is laying the foundations to control physical and trading supply chains
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
Although Iraq remains a major crude exporter, it is still some way from becoming a regional energy supply hub. Ambitious new cross-border schemes aim to rectify that situation
29 November 2024
There are opportunities for attractive returns and greater project success amid a real push by the Iraqi government for reform, as long as there is a shared understanding between the needs of investors and the host government
