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Your email address will not be published.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 *

Prodways Begins Work on Autonomous Dental 3D Printing

France — Since it was acquired by Groupe Gorgé in 2013, Prodways has...

KraussMaffei breaks ground on new Chinese plant

HAIYAN, China — German machinery manufacturer KraussMaffei Group has...

Book Review: “Peak Plastic” by Jack Buffington

By Peter Murphy — March 23rd, 2019 — “Plastics… There’s a great...

Anti-straw legislation causes increased thievery

New York Post — Mugs, cups, silverware, hot sauce — you name it: If...

Hadley bringing lightweight thermoform barriers to heavy trucks

ATLANTA, Ga. – Hadley is joining forces with its Corvac Composites...

Stupid Plastic Things

Laura Stec — Yeech! I was just cleaning up around the house and it...

Seafood packagers appealing to the senses in 2019

Seafoodsource.com — “A picture is worth a thousand words.” It’s an...

TransXL announces the completion of a management buyout

Swindon, UK — TransXL has announce the completion of a management...

Celanese (CE) to Hike Prices of Ateva EVA Polymers in Asia

Nasdaq.com — Celanese Corporation CE is set to hike selling prices...