An entire North Korean fleet of cargo ships were just forced to head home with their tails between their legs after China announced they would no longer be taking any coal from the communist nation.
Reuters reported that China has banned all imports of North Korean coal after the country’s repeated nuclear missile tests, cutting off the country’s most important export product. China’s customs department released an official order this week telling trading companies to return their North Korean coal cargoes.
China will be making up the shortfall by importing more coal from the U.S.
This came days after President Donald Trump met with Chinese President Xi Jinping at his Mar-a-Lago estate in Palm Beach, Florida, where North Korea’s missile tests were a top discussion point.
China’s order will be a massive boon for U.S. coal producers and fits nicely with Trump’s pro-fossil fuel agenda to put miners in coal country back to work.
“Trump said he’d be good for coal, and I don’t think he meant N. Korean coal,” Luke Popovich, spokesman for the National Mining Association, told The Washington Examiner.
The government’s Energy Information Administration said on Tuesday that coal consumption in the U.S. is expected to continue growing going into the summer.
“U.S. coal production is expected to rise this year due in part to expected higher coal-fired electricity generation,” said acting EIA Administrator Howard Gruenspecht, adding that at the same time, “the amount of electricity generated from natural gas this summer is forecast to be lower than last summer, reflecting higher natural gas prices.”
It looks like North Korea has just learned the hard way that disrespecting the U.S. is NEVER a good idea! SHARE this story if you support what Trump is doing!