The impact on China is likely to be limited, as U.S. crude has most recently accounted for less than 2% of Chinese imports, while U.S. LNG has represented no more than 12% of all LNG imports into China in recent months, according to Kpler data quoted by Russell.

China — the largest container importer and exporter through the Port of Houston — is planning retaliatory tariffs on energy-related products and more.