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Oil, China, Propane, India Stirring The ‘Export Waters’ Beneath A Calm Surface

Thursday, 25 July 2019 | 16:00

Turbulence and cross-currents churn just beneath the seemingly calm surface of the river that is U.S. exports.

On the surface, U.S. exports to the world are flat, off an ever-so-slight 0.14%, what you could almost call a rounding error.

Look beneath the surface, however, and the story is a different one, one that can make supplies chains more challenging.

U.S. exports to China down more than $10 billion. Exports to Canada and Hong Kong down another $3 billion-plus each.

And yet, at the same time, exports to India are up $2.26 billion while those to another five nations are up more than $1 billion each: Japan, the Netherlands, Brazil, France and Belgium.

Looking at the commodities, the products themselves, the situation is similar: lots of choppiness.

Most of the news on exports over the last year, including in some of my posts, has involved stunning reversals in soybean shipments to China, motor vehicle shipments to China, oil shipments to China. Those losses grew from the tariff tit-for-tat between President Trump and President Xi Jinping in what was then a nascent trade war and, with each passing day, looks more and more like the status quo.

There were other losses, too. China, long the willing recipient of the United States’ recyclables and home to some of the world’s worst pollution, changed course to better protect its environment. Scrap aluminum exports, for example, are down 46.85%.
Source: Forbes

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