Trump Push for Energy Dominant U.S. Blunted by China LNG Threat - Bloomberg

Trump Push for Energy Dominant U.S. Blunted by China LNG Threat - Bloomberg:

China’s threatened tariff against U.S. liquefied natural gas comes as a second wave of American export terminals seek financing with an eye toward the Asian giant’s drive to reduce its use of coal.

The U.S., with its abundance of shale gas, is rapidly expanding its ability to export the fuel overseas. China, which became the world’s biggest importer of the fuel in May, is seen as a key target as it pursues a strict five-year plan to shift away from smog-inducing coal for both residences and industry.

But a 25 percent tariff, retaliating for a U.S. plan to expand levies against China, could give exporters Qatar, Australia and Russia an edge in securing contacts with the world’s second-largest economy as a dozen or so U.S. companies seek to build new export terminals. That’s not a happy thought at a time when U.S. President Donald Trump has said he wants the U.S. to be “energy dominant.”