Exports

The U.S. hits a new milestone in net petroleum exports

The U.S. has been a net exporter of petroleum products for a consecutive four weeks on a four-week average basis, per Energy Information Administration data released Wednesday.

Why it matters: EIA analyst Mason Hamilton noted via Twitter that it's the first time the U.S. has been a net exporter by that metric. It has previously happened for shorter stretches.

Expert Voices

China trade war could give foreign farmers long-term edge over U.S.

a truck dumps a load of soybeans onto the ground, while a nearby worker watches
Soybeans imported from Brazil are unloaded at China's Nantong Port. Photo: Xu Congjun/Visual China Group via Getty Images

Although a partial agreement was announced last week, the U.S.–China trade war has already brought about changes in global supply chains that could have lasting effects on the American economy, particularly in the agricultural sector.

The big picture: The prolonged U.S.–China tariffs are exacerbating the harms to American farmers wrought by both other trade conflicts and the U.S. withdrawal from the Trans-Pacific Partnership. Foreign food producers are now likely to benefit at the expense of their U.S. counterparts, who have struggled to shift former Chinese exports to other markets.