After the United States intensively announced tariff increases, the beautification industry cried out

Recently, the United States has frequently announced additional tariffs, including Canada, Mexico, and the European Union.
In particular, the United States has backtracked on China and announced that it will impose 25% tariffs on approximately US$50 billion of goods imported from China.
The U.
S.
trade protection actions were subsequently countered by China, the European Union, and Mexico.
The US chemical industry, which has been placed on the front line of the trade war, complains repeatedly.

In the face of China's reciprocal tariff increases, a number of US national organizations, including the American Chemical Industry Council and the American Chamber of Commerce, spoke in a group.
The government put chemical industry directly on the front line of the trade war, and nearly 100 billion US dollars of investment was seriously threatened.
The trade war is contrary to the trend of globalization, and it can be said to be harmful to others, and to integrate the status quo of Sino-US chemical industry trade, as well as the US trade with European and US neighboring countries, it is not difficult to understand the pain of the US chemical industry.

96% of manufactured products in the United States involve chemicals.
The chemical industry is the foundation of the entire North American supply chain.
Over the years, the U.
S.
chemical industry has become one of the largest export industries in the United States by virtue of its raw material and project construction cost advantages.
The U.
S.
provoked a trade war and will inevitably lead to a counterattack by imposing tariffs.
The chemical industry can easily become a key target.

Other countries are well aware of the importance of chemicals to the U.
S.
economy and are very likely to take countermeasures against U.
S.
chemical manufacturers, imposing tariffs on raw materials, construction chemicals, and export commodities in certain chemical consumption sectors.
Then the chain reaction of this action is estimated to make the United States uncomfortable for a while.
The tariff counterattack will plunge the market into a turbulent and unbalanced competitive environment.
Supply chain operations, production, and outsourcing will be severely disrupted.
The US's ongoing US$194 billion chemical industry investment plan may be delayed or abandoned as a result.

Moreover, the targets targeted by the United States this time are mostly important trading partners in the past.
For example, China is one of the most important trading partners of the US chemical industry.
For plastic resin alone, China's imports in 2017 accounted for 11% of the total US exports, or US$3.
2 billion.
The ACC warned the government that the trade war may only benefit China's growing industry, but it will harm the United States' own interests.
Take the plastic resin industry as an example.
Due to the levy of tariffs, the low-cost advantages of US raw materials and chemical production facilities are not so obvious.
China can rely on increasing domestic output to meet demand, or it can turn to other sources. China can replace American products, as can other countries or regions, such as the European Union.
A while ago, the United States was still vigorously lobbying the European Union to buy American natural gas.
Originally, this market has other countries actively participating in competition.
As a result, the United States may have to develop more laboriously in the EU natural gas market.

Source: China Chemical Industry News