The escalation of the US-China trade war amid an already weak macroeconomic backdrop makes the second-half earnings recovery, which many chemical companies and analysts were expecting, highly unlikely. In the absence of a trade deal, expect profit estimates to be slashed.
With increasing tariff headwinds, look for a slowdown in major Middle East export markets, particularly China.
In this latest market insight, ICIS Global Editor, Joseph Chang looks at the repercussions of the US-China tariff escalation on the global chemical markets.
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