WSJ—As China made good on its threat to impose 25% tariffs on $16 billion worth of U.S. imports, one big-ticket item originally on its hit list was conspicuously missing: crude oil.
China Blinks in Trade War, Drops Oil from Retaliatory U.S. Tariff List. The latest broadside fired by China in its trade war with the United States was a list of $16 billion in American imports subjected to a 25 percent retaliatory tariff. One major item that was supposed to be on the list was quietly removed: oil. Analysts wonder if this conspicuous omission is a sign China is blinking in its economic staredown against the Trump administration.