{"id":35322,"date":"2018-06-21T06:25:54","date_gmt":"2018-06-21T11:25:54","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35322"},"modified":"2018-06-21T06:25:54","modified_gmt":"2018-06-21T11:25:54","slug":"chinas-oil-trade-retaliation-is-irans-gain","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35322","title":{"rendered":"China\u2019s Oil Trade Retaliation is Iran\u2019s\u00a0Gain"},"content":{"rendered":"
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China\u2019s Oil Trade Retaliation is Iran\u2019s\u00a0Gain<\/a><\/h3>\n<\/header>\n
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I\u2019ve told you that once you start down the Trade War path forever will it dominate your destiny.<\/p>\n

Well here we are.\u00a0 Trump slaps big tariffs on aluminum and steel in a bid to leverage Gary Cohn\u2019s ICE Wall plan to control the metals and oils futures markets<\/a>.\u00a0 \u00a0I\u2019m not sure how much of this stuff I believe but it is clear that the futures price for most strategically important commodities are divorced from the real world.<\/p>\n

Alistair Crooke also noted the importance of Trump\u2019s \u2018energy dominance\u2019 policy recently<\/a>, which I suggest strongly you read.<\/p>\n

But today\u2019s edition of \u201cAs the Trade War Churns\u201d is about China and their willingness to shift their energy purchases away from U.S. producers.\u00a0 Irina Slav at Oilprice.com <\/a>has the good bits.<\/p>\n

The latest escalation in the tariff exchange, however, is a little bit different than all the others so far. It\u2019s different because it came after Beijing said it intends to slap tariffs on U.S. oil, gas, and coal imports.<\/strong><\/p>\n

China\u2019s was a retaliatory move to impose tariffs on US$50 billion worth of U.S. goods, which followed Trump\u2019s earlier announcement that another US$50 billion in goods would be subjected to a 25-percent tariff starting July 6.<\/p><\/blockquote>\n

It\u2019s unclear as to what form this will take but there\u2019s also this report from the New York Times<\/a> which talks about the China\/U.S. energy trade.<\/p>\n

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Things could get worse if the United States and China ratchet up their actions [counter-tariffs]<\/strong>. Mr. Trump has already promised more tariffs in response to China\u2019s retaliation. China, in turn, is likely to back away from an agreement to buy $70 billion worth of American agricultural and energy products \u2014 a deal that was conditional on the United States lifting its threat of tariffs.<\/strong><\/p>\n<\/blockquote>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

China\u2019s Oil Trade Retaliation is Iran\u2019s\u00a0Gain I\u2019ve told you that once you start down the Trade War path forever will it dominate your destiny. Well here we are.\u00a0 Trump slaps big tariffs on aluminum and steel in a bid to leverage Gary Cohn\u2019s ICE Wall plan to control the metals and oils futures markets.\u00a0 \u00a0I\u2019m […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,3,5],"tags":[2045,130,441,588,10888,9937,16963,3222,827],"class_list":["post-35322","post","type-post","status-publish","format-standard","hentry","category-economics","category-energy-2","category-geopolitics","tag-beijing","tag-china","tag-iran","tag-oil","tag-oil-trade","tag-tariffs","tag-tom-luongo","tag-trade-war","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35322"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35322\/revisions"}],"predecessor-version":[{"id":35323,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35322\/revisions\/35323"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}