China has drastically reduced the amount of oil it gets from the US. If Donnie does what it looks like he's hellbent on doing, that'll soon be ZERO.
US oil exports totaled 145,000 barrels per day in February, according to the most recent stats from the US Energy Information Administration. That's down from the recent peak of 510,000 barrels per day in June 2018.
What in the H Double Hockey Sticks is Trump thinking with his all-or-nothing strategy? As we found out recently, he is possibly the World's Worst Businessman and a HORRIBLE negotiator. He's proved it with NoKo, Iran, China, and of course - CHIIIIINA (and many others). Yep, governance by Tweet and the seat of his pants while CHIIIIIINA plays the long game, Donald is a day trader.
Trump administration inadvertently provided an ideal test case for the calculation of these costs when it imposed a tariff on imported washing machines in January. As it turns out, approximately 1,800 jobs were created in the U.S. as a result of this policy, which was exactly its intended effect. However, the rise in the price of washing machines and, incidentally, dryers, cost consumers over $1.5 billion. This means each job cost $815,000, which is an expensive and inefficient way to boost U.S. employment.