Nov 22 | 2019
“No Longer a Short-term Situation”
The ongoing trade war between the U.S. and China threatens to derail American investment in chemicals export, according to the American Chemistry Council.
Completed and planned projects, valued at morethan US$200 billion, face an uncertain future as chemical producers remain unsure if export markets will remain open for their goods. as tensions mount in Hong Kong and the South China Sea as the much touted “phase one” deal now seems some way off.
“That calls into question whether investments in the U.S. are really going to be viable. They are predicated on export to China … We’re telling our members this is no longer a short-term situation,” Ed Brzytwa, director for international trade at the American Chemistry Council, said in comments to Petrochemical Update.
Since the intial steel tariffs were put in place, the cost of construction has risen sharply as local producers quickly increased prices to balance more expensive imports.
Completed and planned projects, valued at morethan US$200 billion, face an uncertain future as chemical producers remain unsure if export markets will remain open for their goods. as tensions mount in Hong Kong and the South China Sea as the much touted “phase one” deal now seems some way off.
“That calls into question whether investments in the U.S. are really going to be viable. They are predicated on export to China … We’re telling our members this is no longer a short-term situation,” Ed Brzytwa, director for international trade at the American Chemistry Council, said in comments to Petrochemical Update.
Since the intial steel tariffs were put in place, the cost of construction has risen sharply as local producers quickly increased prices to balance more expensive imports.
