Trade tensions prompt China to cut imports of US goods

Chinese customs data released on Sunday showed a sharp decline in imports of liquefied natural gas (LNG) and wheat from the United States, with purchases falling to zero in March. Last year, the US accounted for 5% of China's fuel deliveries and 17% of its maize supplies.

What’s more, American cotton imports plummeted by 90% year-over-year to just 14,000 tons. 

While China's retaliatory tariffs did not affect metal deliveries, Trump's pledge to consider raising duties on its shipments led to a dramatic drop in Chinese imports of copper scrap from the US, which fell by more than 50% to 22,000 tons. Cargoes of copper concentrates also tumbled by 38% to around 19,000 tons, contributing to a significant hike in American metal prices. 

In contrast, crude oil imports from the United States increased by 25% to 542,000 tons, while soybean ones rose by 12% to 2.44 million tons. 

In other regions, US imports of liquefied petroleum gas, which serves as a feedstock for petrochemicals, decreased by 36% to 1.02 million tons. Moreover, shipments of coal used in steel production dropped by 62% to 208,000 tons.