“It is a win win for everyone and a reason for America and China to find common ground on strategic issues that divide them.”
The U.S. and China recently agreed to a major liquid natural gas (LNG) trade deal, which could generate $26 billion annually for America.
The Department of Commerce announced a 100-day action plan to allow Chinese companies to negotiate long-term contracts from American suppliers. The energy firm Wood Mackenzie estimates this deal could pump $26 billion into the U.S. economy each year by 2030.
“This is good news for US energy exports in the future, but it is only the first step,” Richard Kauzlarich, former U.S. ambassador to Azerbaijan and Bosnia and a professor at George Mason University, told The Daily Caller News Foundation. “First, LNG exports will require long-term contracts with U.S. producers/exporters. The Chinese have proven to be tough bargainers in the energy area – ask the Russians.”