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US oil exports to China to decline due to new tariffs
China’s introduction of a 34% tariff on US oil imports, in response to the US raising tariffs on Chinese goods, will lead to a significant reduction in US oil exports to China.
As the US-China trade conflict escalates following President Donald Trump’s administration’s imposition of new tariffs on Chinese products, China announced a 34% tariff on all US goods, including oil. These measures took effect on April 10, 2025, in response to the US raising tariffs on Chinese goods to 125%.
Prior to the imposition of these tariffs, China was one of the largest buyers of US oil. In January 2025, over 8% of US oil exports went to China, amounting to about 855,000 barrels per day. However, the 34% tariff makes US oil less competitive in the Chinese market, likely resulting in a sharp decline in export volumes.
According to the US Energy Information Administration (EIA), during the week ending April 4, 2025, US oil exports fell by 637,000 barrels per day, dropping to 3.2 million barrels per day — the lowest level since January. This decline is partly linked to China’s imposition of high tariffs on US products.
China’s high tariffs on US oil are also putting downward pressure on global oil prices. On April 4, 2025, oil prices fell to their lowest since April 2021: Brent crude dropped by 7.5% to $64.85 per barrel, and West Texas Intermediate (WTI) fell by 8.3% to $61.83 per barrel.
In addition, China imposed a 15% tariff on liquefied natural gas (LNG) from the US, which also negatively affects the American energy sector.
These developments come amid growing tensions in US-China trade relations. The Trump administration continues its policy of imposing high tariffs on imported goods, prompting retaliatory measures from China and raising concerns about a potential slowdown in global economic growth.
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