Trade

After months of negotiations, President Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto on Friday signed a new trilateral trade agreement on the sidelines of the G-20 summit in Buenos Aires, Argentina.

Booming U.S. oil and natural gas production has exerted a “moderating” influence on the trade deficit and set the country on track to become a net oil exporter for the first time in decades, according to new research.

Mexico’s incoming government and the North American energy industry each gained victories through separate provisions in the updated free trade deal reached late Sunday by the United States, Mexico and Canada.

A new trade deal between the United States, Canada and Mexico is drawing support from the oil and gas industry, but overall it may have only a modest impact on the energy sector, according to analysts.

A trio of top U.S. business groups said it would be “unacceptable” to sideline Canada in any trade agreement that seeks to increase jobs and enhance the competitiveness of businesses across the United States.

Less than 24 hours after President Trump late Monday announced tariffs on $200 billion worth of Chinese products, Beijing responded in kind with $60 billion worth of taxes on American goods, including a 10% tariff on liquefied natural gas (LNG), as the Sino-U.S. trade war continued to escalate.

The amount of natural gas traded in the United States increased in 2017 for the third year in a row, reaching its highest level since 2011, according to an analysis of FERC Form 552 submissions by Cornerstone Research.

Note: This is the third in a three-part NGI series titled “Navigating the Nascent LNG Market Through A Choppy World Trade Sea,” which explores the emerging global liquefied natural gas market and the challenges it poses to buyers and sellers seeking to capitalize on the worldwide expansions underway.

Houston-based independent Lilis Energy Inc. has traded for more stakes in the Permian Basin to build its inventory in the Delaware formation in West Texas.