China imposes 36% nylon tariff

nylon 6.jpgProtectionism continues to build, as unemployment rises around the world.

ICIS news reports China has imposed tariffs of up to 36% on nylon 6. BASF will suffer a 30.4% tariff on US exports, and Honeywell 36.2%. Last month, of course, the US hit China with a 35% tariff on tyres.

The threat of more duty barriers may well lead to a move to supply domestic markets with locally produced product. It therefore represents an increasing threat to the globalised business model adopted by many chemical companies.

Mid-week update. India plans 20% duty on caustic soda, ICIS news .

Protectionism will be one of the key issues discussed in the blog’s free Budget Outlook webinar next week (details yesterday). If you would like to register, please email or myself, with Chemicals and the Economy Group in the subject line.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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