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The LNG carrier Asia Vision is moored at the Cheniere Energy Inc. terminal on this aerial photograph taken above Sabine Pass, Texas. This tanker was heading for Brazil. Photographer: Lindsey Janies / Bloomberg
China needs natural gas. The United States has tons of them. But Donald Trump has stifled the trade potential of these two countries, thus preserving the trade deficit that his trade war was supposed to eliminate.
This point of view appeared Friday among panelists of the American Forum organized in China by the University of Chicago.
"I think natural gas is an area that is likely to be a problem," said Michael Greenstone, economics professor Milton Friedman and director of the Energy Policy Institute in Chicago.
"I think China would like to stop using so much coal, and it was said that there is not enough natural gas in the region, and we are just swimming in these areas," he said. .
"So, the trade war could interrupt the very profitable trade between the United States of natural gas extracted from shale exported to China, and I think that in principle, it would help China to solve both its economic growth and its pollution, but the trade war could disrupt this. "
Michelle Caruso-Cabrera, a contributor to CNBC, highlighted the missed opportunity to address the trade deficit: "I think it would also help to resolve this obsession with the trade deficit that the President has," he said. If we started selling them a lot more natural gas. "
Trump started the trade war just when the United States became a natural gas exporter. In 2017, for the first time, the United States exported more natural gas than it imported. In 2018, its daily exports have more than doubled.
The lion's share of initial exports has been piped to Canada and Mexico, but new export terminals have opened this year in Maryland and Louisiana, with another four expected to open in 2019.
China could have been a regular customer in these ports.
But Trump's import tariffs have had a crippling effect on all sorts of cooperation between the two countries, according to Deborah Lehr, vice president of the Paulson Institute, which promotes cooperative and sustainable growth in China and the United States. .
"A lot of the regions where the United States and China have united," she said, "these talks have been broken." Whether they are tackling the problem of climate change in China or in third countries, "all this has stopped, so I think this is going to have a potentially damaging impact for the United States, because it is Chinese standards that will dominate. "
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The LNG carrier Asia Vision is moored at the Cheniere Energy Inc. terminal on this aerial photograph taken above Sabine Pass, Texas. This tanker was heading for Brazil. Photographer: Lindsey Janies / Bloomberg
China needs natural gas. The United States has tons of them. But Donald Trump has stifled the trade potential of these two countries, thus preserving the trade deficit that his trade war was supposed to eliminate.
This point of view appeared Friday among panelists of the American Forum organized in China by the University of Chicago.
"I think natural gas is an area that is likely to be a problem," said Michael Greenstone, economics professor Milton Friedman and director of the Energy Policy Institute in Chicago.
"I think China would like to stop using so much coal, and it was said that there is not enough natural gas in the region, and we are just swimming in these areas," he said. .
"So, the trade war could interrupt the very profitable trade between the United States of natural gas extracted from shale exported to China, and I think that in principle, it would help China to solve both its economic growth and its pollution, but the trade war could disrupt this. "
Michelle Caruso-Cabrera, a contributor to CNBC, highlighted the missed opportunity to address the trade deficit: "I think it would also help to resolve this obsession with the trade deficit that the President has," he said. If we started selling them a lot more natural gas. "
Trump started the trade war just when the United States became a natural gas exporter. In 2017, for the first time, the United States exported more natural gas than it imported. In 2018, its daily exports have more than doubled.
The lion's share of initial exports has been piped to Canada and Mexico, but new export terminals have opened this year in Maryland and Louisiana, with four more scheduled to open in 2019.
China could have been a regular customer in these ports.
But Trump's import tariffs have had a crippling effect on all sorts of cooperation between the two countries, according to Deborah Lehr, vice president of the Paulson Institute, which promotes cooperative and sustainable growth in China and the United States. .
"A lot of the regions where the United States and China have united," she said, "these talks have been broken." Whether they are tackling the problem of climate change in China or in third countries, "all this has stopped, so I think this is going to have a potentially damaging impact for the United States, because it is Chinese standards that will dominate. "
