USA slammed tariffs on imports from China, market anticipate retaliate actions

The USA on 15 June 2018 pushed ahead with a tariff plan on the USD50 billion imports from China that target about 1,300 products, media reports said. This is in line with the country’s initial talk in April this year.

The tariffs would be applied in stages and are subjected to a period of public feedback. The list of the Chinese products will be released soon. 

The move is deemed putting a blow on the trade relations between the two countries, from which market is expecting China to retaliate. Petrochemical players adopted a more cautious stance after the announcement, as China previously put import LLDPE, LDPE, propane and ACN from the USA on the countermeasure list.