China Could Grant Tariff Exemptions On U.S. Oil And LNG

China has opened for applications for tariff exemptions on a number of U.S. products and commodities including crude oil and liquefied natural gas, Reuters reported today. Tariffs were blamed for the slump in U.S. oil and LNG exports to China, which is one of the biggest importers for both commodities. They also interfered with U.S. LNG companies’ plans for new export capacity. After the signing of the Phase 1 trade deal between Washington and Beijing, many hoped that this would restore exports and even boost them significantly. The terms…