Collateral Damage

22-Jun-2018: As part of the ongoing effort by the U.S. administration to negotiate improved trade arrangements with China, the U.S has imposed tariffs on steel and aluminum imports and has threatened additional tariffs on other products. China reacted with a threat to put tariffs on U.S. products. The initial Chinese list of tariffs focused on agricultural and other products, but excluded oil and gas. However, more recent reports suggest that China is considering 25% tariffs on U.S. crude oil imports. Such tariffs would make U.S. crude less competitive against other potential sources of crude. This week we will look at what this means for the tanker market.

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