China to impose tariff on US LNG

China’s Ministry of Finance said in a statement on Tuesday that the US government announced on February 1 the imposition of a 10 percent tariff on all Chinese goods exported to the US, citing fentanyl shipments and other issues.

“The unilateral imposition of tariffs by the US is a serious violation of the rules of the World Trade Organization, which is not only unhelpful in solving its own problems, but also damaging to the normal economic and trade cooperation between China and the United States,” the statement said.

Starting from February 10, 2025, tariffs will be added to some imported goods originating in the United States, the statement said.

This includes tariffs of 15 percent on imports of coal and LNG as well as 10 percent tariffs on crude oil, the ministry said.

President Donald Trump is reportedly expected to speak with Chinese President Xi Jinping as soon as this week.

The US is the world’s largest LNG exporter of LNG.

In July last year, China was the top destination for US liquefied natural gas cargoes, according to the Department of Energy.

During January-November last year, China imported 206.2 Bcf of US LNG (65 cargoes), up 29 percent compared to 2023. The country was the sixth-largest importer of US LNG during the period, the DOE data shows.

China increased its LNG imports by 7.7 percent in 2024, remaining the world’s largest LNG importer.

Data from China’s General Administration of Customs shows that the country received 76.65 million tonnes in 2024.

This compares to 71.32 million tonnes in 2023, which marked a rise of 12.6 percent year-on-year.

LNG imports in 2024 were lower than 78.93 million tonnes in 2021, which marked a new record high due to rising demand from the power generation and industrial sectors.