Trump-Xi Summit May Revive US Energy Exports to China
US President Donald Trump is set to arrive in Beijing on May 14-15 for a summit with President Xi Jinping, where a possible deal to boost US energy exports to China may be discussed. The trade war between the two nations has significantly impacted Chinese imports of US oil and liquefied natural gas (LNG), which were valued at $8.4 billion in 2023.
During the trade war, Chinese imports of US LNG fell drastically from 8.98 million tons in 2019 to just 26,000 tons in 2025 due to a 25% tariff imposed on US LNG. However, analysts estimate that around 12 million tons of contracted LNG deliveries are expected this year, despite the market disruptions triggered by the Iran war.
The US is also China's sole supplier of ethane, a key input for making plastics. Shipments have continued despite the trade war, with imports rising 50% in the first quarter of 2026 to 5.95 million tons worth $2.96 billion.