China’s retaliatory tariffs on the US following the weekend’s broadsides against it made big headlines but are unlikely to have big impacts on the tanker market.
Beijing elected to a 10% levy on US crude oil, among other products, following US President Donald Trump’s decision to increase import duties on Chinese goods by the same amount over the weekend.
China is the world’s largest importer of crude, bringing in over 11m barrels per day, but just 200,000 come from the US.