China compensated for the loss of LNG volumes by increasing purchases from its regional neighbours. Among the largest suppliers, Indonesia increased its exports by 1.7 times month-on-month, to USD330.7 million, while Australia raised supplies by 18 per cent to USD778.4 million. In addition, in March, China resumed imports from Brunei for USD51 million.
On April 2, US President Donald Trump signed an executive order introducing “reciprocal” duties on imports from other countries, resulting in one of the highest rates against China – a total of 54 per cent. This led to a sharp escalation of the trade war between the two countries.
The duty for Chinese exporters to the US has reached 145 per cent, and the rate for US suppliers to China is 125 per cent. Some experts told RIA Novosti that such a level of duties means a de facto halt in trade between the world’s two largest economies.
