U.S. Crude oil imports become one of the current problems of world oil transaction. This issue is getting bigger and affects many countries economical condition. Even China, which is known to start importing the crude oil from the U.S., starts to make its decision for the future importing process. The decision is not that shock but still something big, since China decide to stops all the transactions of crude oil imports from the U.S.
China Decides to Stops The Crude Oil Imports
Bilateral relations between the two countries could be very complicated once it has a certain problem. Then, the current condition between China and U.S. is not that good, because of the crude oil imports issue. It leads into China’s decision to stop importing crude oil from U.S. Actually, it is not caused by only simple factors but it has several series of events as you can find in the following points.
- Disagreement of Trading Price
In June 2018, U.S. was deciding to give the tariff for about $50 billion, which made China mad on the decision. They even decide to threaten the U.S. with the giving only 25% tariff for crude oil shipments. However, the conflict is cooling down for a while and China comes back into its normal shipment of crude oil with the U.S. It was because the U.S. deleted the crude oil from the list.
- Trade Dispute is Getting Bigger
After the time passed, the trade dispute between U.S. and China seems like do not get the way out. Each country has their value of trading and principal tariff of any import and export transactions.
- Chinese Final Decision
It does not only being confirmed that China has some disagreement with the U.S., but China also starts to show the real action of facing the trade dispute between the two countries. Even though there is no still any sanction from China towards the U.S., some of China’s companies decide to stop the process of importing the crude oil, from the U.S.
In some points, it becomes the way on how China anticipates any additional or continual threaten from the U.S. in trading tariff. Then, they decide to stay for the current decision of stopping any importing process of crude oil from the U.S.
U.S. and Worldwide Oil Tariff Problems
Of course, the trade dispute between the two countries will impact the shipment of almost anything that includes into their trading materials. Not only about the crude oil, if the condition is going worst, perhaps it can be a bigger conflict for the two countries and even give impact to the worldwide trading shipment or process. Of course, do not forget about the fact that both China and the U.S. are two big countries that every single issue between the two countries can affect many other countries.
As the two big countries still continue their disagreement about the trading issue between both of the country, it does not only impact the two countries but it almost gives impact to all countries in the world. Especially the country which has a relation to oil trading with the U.S., they will also get to be more familiar with the new U.S. policy on trading.
As the policy of big countries sometimes can give big impact to many other countries, it would be good to know the trading policy of other countries, so we would be more aware of worldwide economic problems that currently happening around the world and get to oil and gas jobs is good. As the trade dispute issue between U.S. and China still currently on progress, hope there is no bigger conflict that would give bigger impact to both the countries and the other countries that has relation with both U.S. and China.