Tom Kirkman

Energy wins in U.S.-China trade agreement

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Not much else for me to add to this article or this headline.  Overall, this should be good news.

Energy wins in U.S.-China trade agreement

President Donald Trump signed an agreement with China this week that will increase trade between the two countries in many sectors of the economy especially for agriculture, manufacturing and energy.

During the signing ceremony Wednesday at the White House, Trump said the deal will mean some $200 billion to U.S. economy. U.S. energy exports will increase $18.5 billion in 2020 and $33.9 billion in 2021 from current levels, according to the agreement.

China already imports a variety of hydrocarbons from the U.S., and its potential is much larger because of its growing economy and lack of production in China. China imported 84 million barrels of oil from the U.S. in 2018, which is 11 percent of total U.S. oil exports, according to the Energy Information Administration. 

The largest importers were Canada, with 160 million barrels, and South Korea, with 88 million barrels.  ...


...  The administration pointed out the agreement’s objective is to “rectify unfair trade practices.” It is not a “free trade agreement.”  ...


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