Heightened trade tensions drive USD/CNY rates higher
On May 6, President Trump announced new hikes in a surprise move that escalated the trade war between the two economies after months of positive trade negotiations. The new tariffs on $200 billion Chinese products came into effect on May 10 and China retaliated by placing its own tariffs on $60 billion US goods on May 13.
The Chinese yuan has tumbled by more than 2.5% against the US dollar since last month until now.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- LDPE run-up enters its third month in China as tightness persists
- African PP, PE markets extend gains into Sept on tightness
- European PS follows SM lower in Sept, ABS flat on tightness
- Turkey PP, PE markets propelled higher by shipping bottlenecks in Sept
- Are record-high PVC prices the new normal amid enduring pandemic?
- European PVC up for 16th month in Sept, prices touch new highs
- Egypt’s PP, PE markets rise on tightness in September
- Logistics snarls propel import PP, PE offers higher in Europe
- Import PVC prices near all-time highs in India, disparity with China/SEA grows
- PP, PE supplies rise in China; demand lags behind expectations despite peak season