A vessel from the US Sabine Pass LNG plant arrives at Tianjin LNG port in China last year. Photo:
VCG/Contributor/Getty Images

China yesterday said it's hitting U.S. liquefied natural gas shipments with 10% tariffs, part of their retaliation against Trump's announcement this week of $200 billion in tariffs on Chinese goods.

Why it matters: China, which has a large and growing thirst for gas imports, has been an emerging growth market for the expanding U.S. LNG industry (though cargoes to China have fallen of late).

  • But the trade war could threaten investment in expensive new and expanded export facilities.

What they're saying: "Given that LNG requires considerably larger and more specialized investments in import infrastructure than crude oil, mechanisms that constrain LNG markets may prove more troublesome for U.S. exporters," ClearView Energy Partners said in a note.

  • Per Reuters, the gas penalties are "casting a shadow over U.S. export terminals that would propel the United States into the world’s second-largest LNG seller."
  • "The tariffs will push Chinese buyers to other sellers in Asia and the Middle East because the U.S. will no longer be considered a low cost option," analyst Ira Joseph of S&P Global Platts tells the Wall Street Journal.

The intrigue: The LNG tariffs, however, are lower than the 25% that China had previously threatened, and shares of the big U.S. LNG exporter Cheniere Energy closed higher yesterday.

Go deeper: The forever trade war.

Go deeper

Deadly storm Zeta pummels parts of Alabama and Florida

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Tropical Storm Zeta has killed at least two people and caused mass power outages after making landfall in Louisiana as a Category 2 hurricane Wednesday.

What's happening: After "battering southeastern Louisiana and southern Mississippi," Zeta weakened to a tropical storm over central Alabama early on Thursday, but it was still packing powerful winds and heavy rains, per the National Hurricane Center.

Taiwan reaches a record 200 days with no local coronavirus cases

Catholics go through containment protocols including body-temperature measurement and hands-sanitisation before entering the Saint Christopher Parish Church, Taipei City, Taiwan, in July. Photo: Ceng Shou Yi/NurPhoto via Getty Images

Taiwan on Thursday marked no locally transmitted coronavirus cases for 200 days, as the island of 23 million people's total number of infections reported stands at 550 and the COVID-19 death toll at seven.

Why it matters: Nowhere else in the world has reached such a milestone. While COVID-19 cases surge across the U.S. and Europe, Taiwan's last locally transmitted case was on April 12. Experts credit tightly regulated travel, early border closure, "rigorous contact tracing, technology-enforced quarantine and universal mask wearing," along with the island state's previous experience with the SARS virus, per Bloomberg.

Go deeper: As Taiwan's profile rises, so does risk of conflict with China

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: Biden ahead in Wisconsin, Michigan as cases surge in the Midwest.
  2. Health: Fauci says U.S. may not return to normal until 2022 — Trump's testing czar: Surge "is real" and not just caused by more tests Some coronavirus survivors have "autoantibodies."
  3. Business: Consumer confidence sinking Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.