While this makes sense, a look at some of the industries set to bear the brunt of the protectionist measures might be useful—because it might reveal a means of solving the trade deficit problem that has been irking President Trump enough to make him pick the trade equivalent of the nuclear option. However—and this is the important part—petrochemicals are also important for the U.S. oil and gas industry; and the two have been enjoying an active trade relationship that is now in jeopardy because of the tariffs. With the latest tariff exchange that saw the U.S. slap an extra 34% tariff on Chinese imports and China’s retaliation with a levy of the same size, that blossoming trade flow of U.S. oil and gas products to China may shrink significantly.
Author: Irina Slav
Published at: 2025-04-08 23:00:00
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