After meeting with Chinese leader Xi Jinping and the subsequent announcement of easing the trade conflict between the PRC and the US, President Donald Trump proposed an oil and gas deal to China. The President of the United States wrote about this on Truth Social, UNN reports.
Details
Donald Trump and Xi Jinping reached an understanding on Thursday to ease the trade conflict between Washington and Beijing. Subsequently, President Donald Trump hinted at the possibility of an oil and gas deal between Alaska and China. In his message on Truth Social, Trump announced a major energy deal involving Alaska.
China has also agreed to begin the process of purchasing American energy. In fact, a very large deal for the purchase of oil and gas from the great state of Alaska could take place
The potential of this energy deal should be explored by Secretary of Energy Chris Wright and Secretary of the Interior Doug Burgum, along with their respective energy teams.
Likely deals after significant reductions in US-China trade relations
The announcement of an oil and gas deal currently appears to be an attempt to change course in relations, after significant reductions in the previous period. At the beginning of the year, oil imports from the US to China were significantly reduced.
In April, Chinese refineries cut imports of American oil by about 90 percent amid escalating trade tensions with the United States. This led to a sharp increase in crude oil imports from Canada, with China importing 7.3 million barrels of crude oil from the port of Vancouver in March, media reported.
Throughout the year, trade tensions between the US and China rapidly escalated, with both countries imposing tariffs. These included a 44 percent restriction by China on US soybean exports. As soybeans account for about 14% of total US agricultural exports, this was a huge blow to local farmers.
We should add that Trump, after China tightened restrictions on the export of rare earth elements, promised to introduce additional 100% tariffs on Chinese goods from November.
However, as of today, according to the statement of the Ministry of Foreign Affairs of the PRC, Washington and Beijing "reached a consensus" on "important economic and trade issues."
US President Donald Trump positively assessed his meeting with Chinese leader Xi Jinping, stating that they had reached a trade agreement that could be signed in the near future.
Recall
China is interested in mediating negotiations between Russia and Ukraine, but does not believe that the time is right for this. Its position is currently one of waiting. Political scientist Ruslan Bortnik said this in a comment to UNN.
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