Everyone knows that all measures are fair in times of war. If for future victory it is necessary to turn a blind eye on some rules, it will be done. For the first time since the start of the trade war between the world's two largest economies, China plans to resume imports of American liquefied gas.
Notably, local buyers completely stopped signing long-term supply contracts with US exporters in 2018. Back then, the countries entered the first phase of the trade war and exchanged tariffs. Although natural liquefied gas (LNG) was not included in the list of banned imported goods, in May 2019, its supplies from the United States were completely halted. Chinese companies switched to suppliers of this commodity from the UK during the escalation of the trade conflict. However, all of a sudden, Foran Energy Group has recently announced a long-term agreement with US company Cheniere Energy. According to the agreement, the company is expected to deliver 26 LNG shipments to China from 2021 to 2025. This was the first trade agreement since May 2019.
Some experts assume that China is making the first step to warm up trade relations with the US after Biden’s victory. Perhaps this is a kind of a reminder for Joe Biden who during the election race promised to review US foreign trade policy, primarily with China.
