Endless Economic Wars: A Major Threat For U.S. Oil Exports

The 5-percent tariffs China imposed on U.S. crude oil imports two months ago could challenge the growth prospects of overall exports, economists gathered for an industry event have warned. “China’s the big growth in demand. The whole focus of U.S. exports will eventually somehow have to get back to China,” said the chief economist of Phillips 66, Horace Hobbs, as quoted by S&P Global Platts, during the US Association for Energy Economics conference. Talk about Chinese tariffs on U.S. oil imports began pretty much as soon as the conflict began.…