Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 11 April.

Wall Street slashes earnings estimates on US chemical companies on tariffs, macros
Wall Street is taking a cleaver to US chemical company profit forecasts and prices targets, with tariffs expected to squeeze margins in the form of higher costs as well as lower demand.

INSIGHT: Tariffs put US chemical exports at risk, but optimism on trade deals emerges on eve of implementation
2 April 2025 – dubbed ‘Liberation Day’ by US President Trump – saw a sweeping and substantial salvo of reciprocal tariffs, with a baseline tariff set at 10% but for many countries, much higher customized levels.

INSIGHT: US-China Trade War 2.0 to massively disrupt petrochemical trade flows
It is now a full-blown trade war between the US and China with the launch of massive salvos of tariffs and retaliatory tariffs, far exceeding levels during the first US-China trade war which started in 2018.

US chem shares soar on 90-day tariff pause
US-listed shares of chemical companies skyrocketed on Wednesday as the biggest market rally occurred in five years, amid news that the US will adopt a 90-day pause on its reciprocal tariffs.

US chem shares fall as stock market resumes sell-off
US-listed shares of chemical companies fell sharply on Thursday as the stock market resumed its sell-off after the previous day’s massive rally.

UPDATE: China retaliates anew; hikes tariffs on US goods to 125% from 12 April
China has raised its tariffs on US goods to 125% effective 12 April, from 84% previously, marking the latest salvo in the trade war that roiled global markets this week.

INSIGHT: China’s growing chemicals export capacity could yet find destinations despite trade war with the US
The latest moves in the developing tariff war between the US and China, with both countries dramatically hiking rates over the last few days, has pushed global trade into new and even more uncertain territory.

SHIPPING: Asia-US container rates edge higher on tariffs, tighter capacity
Rates for shipping containers from east Asia and China to the US reversed direction and edged slightly higher this week as US tariffs went into effect and as capacity tightened.