Bloomberg suggested a complete shutdown of oil sales from the United States to China

After President Donald Trump came to power in the United States at the beginning of this year, China began to gradually reduce purchases of American oil, bringing their volume to 1% of total imports, but Washington's new duties are likely to lead to a complete reset of sales. This forecast is given in an article by Bloomberg on April 10.

Experts believe that the collapse in supply volumes will not be very critical for both countries, but it will indicate that there has been a huge gap in trade relations between the world's largest economies.

Before Trump took over the White House again, China had been increasing its imports of American oil for several years. However, now China's import duties on American goods have already reached 84%, and therefore the purchase of oil from the United States will only bring losses to Chinese refiners. According to the publication, such a situation can change oil flows in a completely new way.

"Some of this crude oil will go to other buyers in Asia. In recent days, shipments have been purchased by refineries in India and Japan to take advantage of lower prices for some grades from the United States," the publication says.

China will be able to increase sub—sanctioned supplies from Russia and Iran, as well as increase the volume of purchases of raw materials from producers in the Middle East - Oman or the United Arab Emirates (UAE).

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On April 4, Olga Veretennikova, vice president of the Borsell analytical company, told Izvestia that after Trump's new tariffs and retaliatory measures from China, there was a sharp drop in oil prices. She pointed out that the United States and China account for almost half of the global economy (43%). The outbreak of trade wars can lead to serious problems in the economies of these countries, which will cause them to buy less goods from other countries and the consumption of oil and petroleum products will also decrease, the expert said.

A month earlier, Trump accused China of failing to combat drug trafficking and doubled import duties on goods from China from 10% to 20%. On February 4, the State Council of the People's Republic of China reported that from February 10, China will impose duties of 15% on coal and liquefied natural gas (LNG) from the United States. In addition, it was noted that tariffs of 10% will be levied on American oil, multicompact cars, pickups and agricultural machinery.