API Applauds Signing of U.S.-China ‘Phase One’ Trade Deal, Urges Further Negotiations to Lift All Tariffs
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WASHINGTON, January 15, 2020 — The American Petroleum Institute (API) today issued the following statement after the United States and China signed a “phase one” trade deal.
“The phase one trade deal reached between the U.S. and China is a positive step forward, creating greater certainty across the American economy,” API President and CEO Mike Sommers said. “Although the U.S. leads the world in energy development, trade wars disrupt global supply chains and create new barriers to U.S. exports. De-escalation of trade tensions is welcome news to a wide range of industries, but there’s more work to be done. We encourage the administration to stay at the negotiating table until the U.S.-China marketplace for energy trade is fully restored and all remaining tariffs are lifted — including U.S. tariffs on imports of industrial components used in our industry and Chinese retaliatory tariffs on U.S. energy exports.”
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API represents all segments of America’s oil and natural gas industry. Our more than 600 members produce, process and distribute most of the nation’s energy. The industry supports more than ten million U.S. jobs and is backed by a growing grassroots movement of millions of Americans. API was formed in 1919 as a standards-setting organization. In our first 100 years, API has developed more than 700 standards to enhance operational and environmental safety, efficiency and sustainability.