US: Cal Dooley, the president and chief executive officer of the American Chemistry Council (ACC), has warned that a proposed Chinese response to US-imposed tariffs on imports of Chinese steel and aluminium could have negative implications for US exports of products including polyethylene.
“China is one of the US chemical industry’s most important trading partners, importing 11%, or US$3.2bn, of all US plastic resins in 2017. We are particularly concerned that 40% of the products to which China has assigned new tariffs are chemicals, including polyethylene, PVC, polycarbonates, acrylates, and others,” said Dooley in a statement. He added that nearly US$185bn in new chemical factories, expansions and restarts of facilities around the US are predicated on current tariff schedules, and market shifts caused by tariff increases may convince investors to do business elsewhere. He ‘strongly’ urged the US and China to reach an agreement.