The details of a trade deal between the U.S. and China, announced June 26 by Commerce Secretary Howard Lutnick and confirmed by China, remain sparse. Once they are finalized, the requirement for U.S. exporters to obtain a Bureau of Industry and Security (BIS) license to send ethane to China should be lifted, but the effect on trade flows is already apparent. In today’s RBN blog, we review the impact of the BIS license requirement, the still-pending imposition of fees on vessels owned or operated by China, and the risk that comes with using the energy industry as a bargaining chip in trade talks. 

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