China imposed retaliatory duties of 10% to 15% on US energy products in February, and at a similar level on agricultural goods in March. China’s purchases are likely to dwindle even further after the trade war kicked into higher gear in early April, when both sides launched blanket tariffs of more than 100% on each other’s goods.
China sharply reduced imports of many US commodities last month, in some cases to zero, as the trade war between the world’s two biggest economies intensified.
Among the worst affected were purchases of liquefied natural gas and wheat, which both fell to nothing in March, according to Chinese customs data released on Sunday. The US accounted for 17% of China’s wheat imports last year, and 5% of its LNG.
