China's retaliatory tariffs on the United States may cause U.S. oil exports to decline in 2025 for the first time since the COVID-19 pandemic, after growth plateaued last year. Exports of U.S. crude have surged more than 10 times since it lifted a 40-year federal ban on the export of domestic oil in 2015.

After a 10 percent tariff on Chinese products took effect on Tuesday, China announced retaliatory measures, including tariffs and an investigation of Google.

That’s fine–it’s fine,” Trump told reporters from the White House Tuesday afternoon. “We're going to do very well against China and against everybody else." China imposed 15% tariffs on U.S. coal and liquefied natural gas imports,