Sector News

Latest $200bn US tariff proposal includes many Chinese chems

July 12, 2018
Energy & Chemical Value Chain

Several chemicals are included in the $200bn worth of tariffs that the US may impose on Chinese imports in the latest escalation of the trade war between the two countries.

The US will hold hearings on 20-23 August before imposing a 10% duty on the items in the list.

The list is massive, exceeding 6,000 products

It includes several industrial chemicals such as olefins, aromatics, alcohols, acetyls, acrylics, anhydrides, glycols and glycol ethers.

Nitrogen fertilizers and surfactants are included as well as caustic soda and titanium dioxide (TiO2).

While elastomers are listed, no polyolefins were included.

A full list can be found here.

For many products like ethane, none are imported by the US. Still, the inclusion of so many chemical products on the US list shows that the sector is becoming increasingly exposed to the trade war.

The US has already imposed 25% tariffs on several Chinese products, most of which are machines and industrial tools.

China responded with its own set of retaliatory tariffs on US products, which targets soybeans and other agricultural goods.

The US could move forward on a second set of tariffs on $16bn worth of goods, many of which are polyolefins and other polymers.

China responded with its own second set of tariffs that also targets several polymers.

The latest tariffs from the US would be on top of all of the other duties that have been adopted or imposed.

> View the full list of industrial chemicals and fertilizers covered by the $200bn worth of proposed tariffs on the ICIS website

By Al Greenwood

Source: ICIS News

comments closed

Related News

April 14, 2024

Nadja Håkansson appointed Chief Executive Officer of thyssenkrupp Uhde

Energy & Chemical Value Chain

The future CEO of thyssenkrupp Uhde, Nadja Håkansson, has held various management positions at Siemens and Siemens Energy and looks back on over 18 years of national and international experience in the areas of supply chain management, operations, sales and corporate management.

April 14, 2024

Neste and Lotte Chemical team up to scale renewable plastics from used cooking oil

Energy & Chemical Value Chain

Neste and South Korean company Lotte Chemical have partnered on a project to elevate the sustainability profile of chemicals and plastics. The partnership’s ambition is to replace fossil resources with renewable raw materials that offer a lower carbon footprint.

April 14, 2024

EU chemical industry confidence shows upward trend

Energy & Chemical Value Chain

At least the confidence in the chemical sector has been seeing an upward trend and the trade balance is recovering as destocking seems to be coming to an end. Citing projections from the European Central Bank, CEFIC states that the level of inflation is expected to fall from 5.4% in 2023 to 2.3% in 2024.

How can we help you?

We're easy to reach