Recently, the global concern of the US election finally announced the results, the 78-year-old Republican candidate Trump once again announced that he won the US presidential election, will "return to the palace" to continue to write his political legend. Trump's "America First" policy, although controversial, has indeed touched the interests of some Americans. The blunt remarks involved in his many speeches have also made people around the world cold sweat.
In the friction between the two countries, all walks of life are difficult to escape, and the plastic chemical industry is also. In the process of increasing taxes again and again, industries from chemical raw materials to downstream automobiles, furniture, home appliances, tires and other industries have been affected.
During Trump's term in 2018-2019, the United States launched three rounds of tariffs on Chinese exports to the United States.
First round ($50 billion) : 25 percent tariffs on $34 billion and $16 billion of Chinese imports on July 6, 2018 and August 23, 2018. The chemical products mainly involved include lubricating oil, polyethylene, polypropylene, EVA, polystyrene, ABS, PVC, PMMA, polyformaldehyde, PET, polylactic acid, epoxy resin, PC, polyurethane and so on.
The second round ($200 billion) : On September 24, 2018, the United States imposed 10% tariffs on $200 billion of Chinese imports to the United States (raised to 25% from May 10, 2019); The third round ($120 billion) : from September 1, 2019, 10% tariffs will be imposed on $120 billion of Chinese goods exported to the United States (reduced to 7.5% from February 14, 2020). Subsequent tax increases mainly involve alkanes, olefins, benzene, chemical fibers, plastics, rubber and products.
As China's largest exporter, the US market is blocked by high tariffs, which will have a significant impact on China's exports and economy. The impact on the plastic chemical industry can not be ignored. According to relevant data, China exports about 400 kinds of plastic chemical varieties to the United States. Among them, more than 1,000 tons are exported to the United States, including acetone, resin, pure MDI, acrylic acid, epoxy resin, butyl acrylate, pentaerythritol, polyvinyl alcohol, benzene and other Dahua products.
In addition, the export situation of the downstream plastic chemical industry is not optimistic, and it can be called repeated setbacks. In 2023, China's most exported products to the United States, computer mobile phone lithium batteries, textiles, clothing, shoes and hats, plastic rubber, electric vehicles, fuel buses, optical/medical equipment, leather tiles, etc. have a higher export value, a total of more than 3 trillion. Among them, the export value of mechanical/electrical/audio/video/electronic equipment and parts was 1,499.7 billion yuan, accounting for 42.61%.
It is not difficult to speculate that after Trump takes office, it will have a great adverse impact on foreign trade, from the upstream chemical raw materials, to the middle stream products, and then to the downstream many industrial products, are likely to be subjected to a new round of "sanctions". The tragic situation of overseas exports "flaring out" will also force more and more manufacturers in the industrial chain to start thinking about how to occupy a larger market share in the domestic reduction market and snatch the limited "cake" to survive. The trade friction between the two economies will gradually escalate and expand, spreading to more areas.
Then look back to the plastic market, some plastic rebound market today, including PE, PP, PET EVA appeared a small rebound in the market