China caves on 125% tariff for major US export after White House predicts Beijing can’t keep up
China waived a 125% tariff on ethane imports from the U.S. on Tuesday, according to a report from Reuters.
China had initially imposed the tariff earlier this month as part of its retaliation against President Donald Trump’s Liberation Day tariff campaign. China is responsible for purchasing roughly half of America’s ethane exports each year, according to the U.S. Energy Information Administration.
Chinese companies that rely on U.S. ethane include Satellite Chemical, SP Chemicals, Sinopec, Sanjiang Fine Chemical and Wanhua Chemical Group, while the key U.S. exporters are Enterprise Products Partners and Energy Transfer.
Ethane joins a growing list of products that China has granted tariff exemptions for amid the ongoing trade war with Washington.
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