President Trump undeniably has an unorthodox approach to solving economic problems. During his campaign for President he made a point of declaring that America was getting the short end of trade deals across the globe and advocated policies which some people described as protectionist. China was no exception to this and when he came into office President Trump vowed to remedy what he described as a major trade deficit. Last week he and Chinese leader Xi Jinping struck a deal that will see China receive more U.S. natural gas as well as food imports.
China, with it’s enormous population has a voracious appetite for sources of energy and is already the largest purchaser of U.S. crude oil – purchasing 8.08 million barrels in Februrary according to Bloomberg. China purchases over 8 million barrels of oil every day, so the United States share of this market is relatively small, but this could grow as China seeks to diversify its energy imports.
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