PlasticsEdge™ Lead Generation Program: Call 978-342-9000 for details or email [email protected]

Plastic-News-Recycling-Today-3rd-round-US-China-tariffs-hit-China-finished-plastics-exports

NEW YORK (ICIS) — As the third round of US-China tariffs looms, China finished plastics products will be in the crosshairs, along with additional US exports of commodity chemicals.


The proposed third round of tariffs, which the US plans to put on an additional $200bn in Chinese imports, and China on $60bn of US imports, raises the stakes in chemicals and plastics.


While the second round on $16bn in imports on both sides already in effect since 23 August impacted around $2.0bn in US chemicals and plastics exports and $2.2bn in China’s, round three targets another $8.8bn in US exports of these products, and $16.3bn in China exports, according to the American Chemistry Council (ACC).


The first round of tariffs from the US and China on $34bn of imports implemented on 5 July did not include chemicals.


The bulk of the US tariffs in the third round target China’s finished plastics products, In round two, about $1.4bn in these exports were put under tariff. In round three this jumps to $5.8bn, according to an ICIS analysis of 2017 US International Trade Commission (USITC) statistics.

The products under tariff in rounds two and three include everything from plastic tubes, pipes and hoses, plates, sheets, films, containers, bags and sacks, lids and caps, to wall, ceiling and floor coverings, and gloves and ponchos.

In volumes, for the finished plastics products where China exports to the US are measured in kilograms, the second round captured 128,000 tonnes while this amount more than doubles to 284,000 tonnes in the third round. This could diminish China’s overall demand for polymer resins.


If the third round of tariffs are implemented, the combined impact on $7.2bn of finished plastics from China to the US will represent about 30% of US imports of these specific products under tariff, and 19% of US imports of all finished plastics products, including many not under tariff.


See the ‘Source Link’ for the full article.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

How the ethane molecule changed the Gulf Coast — and the world

Houston Chronicle — Working in nearly 100-degree heat, sweating...

Medical Plastics Market Projected To Exceed USD 37.5 Billion By 2026

Digitaljournal.com — The Medical Plastics market is anticipated to...

Can Anyone Catch America In Plastics?

Forbes.com — Ethane prices recently hit a four year high. Demand is...

Toray Plastics America has expanded its portfolio of white films

Toray Plastics (America),has expanded its portfolio of white films...

Pyrolysis firm Agilyx unveils recycled chemicals to make olefins

Oregon — Agilyx is already processing scrap PS into a feedstock for...

Exports to Thailand collapse after ban

Thailand — A Thai policy restricting the import of scrap plastics...

Third round of US-China tariffs to hit China finished plastics exports hardest

NEW YORK (ICIS) — As the third round of US-China tariffs looms,...

Sunlight converts plastic waste to hydrogen fuel

UK — UK scientists have discovered a simple sunlight-driven process...

Obituary: Aldo Crugnola – Former Dean U Mass Lowell & Plastics Professor

DRACUT, Mass — Dr.Aldo Mario Crugnola, 90, passed away, Tuesday,...

Brexit could cripple UK plastics industry

At 11 PM on March 29, 2019, the UK is scheduled to leave the EU....