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Tanks for storing imported crude oil at a terminal in the Port of Qingdao, Shandong province. Photo: IC photo
Prospects for China to resume large-scale imports of U.S. oil and gas remain clouded by geopolitical friction, despite President Donald Trump touting a potential breakthrough after talks with Chinese leader Xi Jinping.
Chinese energy imports from the U.S. have plunged in 2025 as tit-for-tat tariffs escalated throughout the year. Traders and analysts say political risk has now overtaken market fundamentals, with erratic tariff shifts making seaborne cargoes too risky to justify.
Trump posted on social media Thursday that China had agreed to begin purchasing U.S. energy products after his meeting with Xi in South Korea. He said the two sides may ink “a very large scale” deal involving oil and natural gas from Alaska, with discussions to be led by U.S. Energy Secretary Chris Wright and Interior Secretary Doug Burgum.
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