China needs to rethink economic ties with United States following trade war and ban on Huawei products. According to senior governmental think tank Wang Yongzhong the country must revisit the idea of importing large amounts of natural gas from the US.
Yongzhong was referring to the 2017 deal in which China agreed funding a natural gas project worth $43 billion in Alaska.
The development comes after latest action of Trump administration of blacklisting Huawei.
In 2017 China purchased crude and LNG worth $6.3 billion from US and it was 3.6 percent of the total purchases of foreign energy products.
In the Huawei blacklist US has restricted Google, Qualcomm and other tech companies and chipmakers to cut ties with the telecom giant until a 90-day license is granted to keep existing networks online.
Meanwhile, China said Monday the country is embarking on a new Long March and a new start is on the card.
According to senior governmental think tank Wang Yongzhong the country must revisit the idea of importing large amounts of natural gas from the US.
Trade negotiations between US and China have led to roadblock for imports and exports of products between the two countries, first following increase tariffs on $200 billion in Chinese goods from 10 percent to 25 percent and next a reciprocal by China by upping tariffs on $60 billion of US goods.
According to South China Morning Post China is open to resuming negotiations with the US but government advisers have highlighted risk of sourcing supplies.
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