There is an opening politically for some kind of US-China trade deal in the fourth quarter of 2019 or early 2020, ahead of the US presidential election in November 2020, the CEO of Huntsman said.
“If it’s not settled entirely, there could be a partial deal to take the worry out of it. We could see a 1,500 point move in the [US stock] market, creating trillions of dollars in value,” said Peter Huntsman, CEO of Huntsman, in an interview with ICIS.
The resulting benefits of a trade deal would set the stage for the November 2020 US presidential election where President Donald Trump is basing a large part of his re-election strategy on the strength of the US economy, he noted.
The tariffs and negative sentiment are hitting China far harder than the US, said the CEO.
“You’ve got to think that China is really concerned. The US is less dependent on exports than ever with exports accounting for 9.5% of GDP. And half of that comes from Canada and Mexico,” said Huntsman.
“The US is less dependent on the world for both energy and exports,” he added.
By Joseph Chang
Source: ICIS News
Synthomer announced the appointment of Lily Liu as Chief Financial Officer (CFO). Lily will take up the role no later than 1 July 2022, succeeding Steve Bennett who announced in August 2021 that he would step down once a suitable successor was in place.
Westlake Chemical (Houston, Texas) has reached agreement to acquire Hexion’s (Columbus, Ohio) epoxy business for approximately $1.2 billion. Westlake says the deal enhances chlorine and olefins integration and brings attractive opportunities in high-growth epoxy markets, including wind turbine blades, automotive lightweighting, aerospace and consumer coating applications.
Tetra Pak Iberia is launching a gamified app experience in partnership with digital studio Appetite Creative. The technology is enabled though scannable QR codes printed on drinking cartons and available to all brands in Southern Europe.