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API applauds signing of US – China ‘phase one’ trade deal

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Hydrocarbon Engineering,

The American Petroleum Institute (API) has recently issued the following statement after the US and China signed a ‘phase one’ trade deal.

API President and CEO Mike Sommers said: “The phase one trade deal reached between the US and China is a positive step forward, creating greater certainty across the American economy […] although the US leads the world in energy development, trade wars disrupt global supply chains and create new barriers to US exports.

“De-escalation of trade tensions is welcome news to a wide range of industries, but there is more work to be done. We encourage the administration to stay at the negotiating table until the US – China marketplace for energy trade is fully restored and all remaining tariffs are lifted — including US tariffs on imports of industrial components used in our industry and Chinese retaliatory tariffs on US energy exports.”


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