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Petrochemicals

Escalating US-China trade tensions could hit consumer confidence, depress global petrochemical demand

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Listen: Escalating US-China trade tensions could hit consumer confidence, depress global petrochemical demand

The new US 25% tariff hike and China's retaliatory tariffs on $60 billion of US goods have roiled global markets, including the commodity sector. Heightened trade tensions in the long run may adversely impact China's export machinery and depress demand for factory inputs such as petrochemicals – which hits US plastic producers.

S&P Global Ratings Asia Pacific Chief Economist Shaun Roache and S&P Global Platts Analytics Analyst Eshwar Yennigalla join S&P Global Platts Senior Market Development Specialist Yi-Jeng Huang to examine the impact of the new tariffs on consumer confidence, currency, and the longer term impact on global supply chains.

Click here for our full coverage of the US-China trade tension