Beijing has resumed purchasing liquefied natural gas from Washington as part of the first phase of the Sino-US deal. This was announced on Wednesday, March 25, according to the portal Energyworld, citing Reuters.
According to the newspaper, the Chinese authorities have satisfied the request for benefits for about ten Chinese companies as the abolition of the 25 percent tariff on imports of American shale gas. Among these companies are China Gas Holdings and Oriental Energy.
A representative of Oriental Energy confirmed that the duties were lifted for his company, but refused to comment on the purchases.
On February 18, it was reported that the Customs Tariff Committee under the State Council of China will begin accepting applications from Chinese companies for exemption from import duties on 696 items from the U.S. starting from March 2.
The ceremony of signing the agreement on the first phase of the trade deal between the USA and China took place on January 15 in Washington. The document was signed by U.S. President Donald Trump and Chinese Vice Premier Liu He.
In particular, the parties agreed that Beijing will purchase $75 billion worth of American industrial goods, $50 billion worth of energy resources, $40 billion worth of agricultural products, and another $35-40 billion worth of services to be spent by China in the next two years.
On February 6, the Chinese Ministry of Finance announced that it had halved duties on a number of goods imported from the US for a total of $75 billion.
The trade confrontation between China and the US began in July 2018. Then Washington imposed 25% duties on imports of 818 types of Chinese goods for a total of $34 billion a year. Beijing adopted mirror measures. Later, the parties introduced new duties.