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China's new retaliatory tariffs on liquefied natural gas, chemicals hit home for Louisiana

Source: https://theadvocate.com/baton_rouge/news/business/article_a0c79c10-bb8b-11e8-8f83-5f709c0d7990.html - Sep 19, 2018

China said Tuesday it will impose 10 percent duties on a host of U.S. products, including liquefied natural gas, threatening a booming Louisiana industry, and chemicals, Louisiana’s third-largest export to China and a major industry statewide.

The tariffs on $60 billion worth of U.S. exports to China go into effect later this month. The move came in response to the Trump administration imposing tariffs late Monday on $200 billion worth of Chinese-made goods starting next week.

Louisiana, a uniquely trade-sensitive state, already has seen 25 percent tariffs imposed on major exports like soybeans, and companies building big industrial facilities have complained about rising costs from U.S. tariffs on steel from China and other countries.

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Category: General Business