China Drops U.S. Crude Oil From Its Target List of Tariffs

As China made good on its threat to impose 25% tariffs on $16 billion worth of U.S. imports, one big-ticket item originally on its hit list was conspicuously missing: crude oil. 

Oil had been one of a slate of targets China listed in June for tariffs to counter those the Trump administration threatened on Chinese imports.Over the past two years China has become the biggest buyer of U.S. crude-oil exports, last year taking a fifth of the total.

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China is buckling under pressure. They will come to the table by the end of this month.

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Their logic so far has been evident. Maximum damage to supply chains.
 

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