Ambani avoids tariffs, buys US ethane gas

Mukesh Ambani, Asia's wealthiest individual, is importing record amounts of US ethane gas to circumvent potential tariffs from President Trump's trade policies. This strategic move aims to reduce costs significantly. Reliance Industries, Ambani's company, imports 1.6 million tonnes of US ethane annually, saving $450 million by replacing more expensive naphtha. GAIL, a state-run firm, is also pursuing similar strategies, seeking long-term contracts for US ethane. This shift positions India as a major buyer of US energy, potentially easing trade tensions. The move comes as China reduces its US ethane purchases due to trade disputes, and India seeks to avoid tariffs on its goods.