Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 18 April.

US tariffs spark fears in Chile about even higher industrial goods imports
US import tariffs on China and other Asian countries are increasing fears in Chile that even higher amounts of imports will dent domestic plastics and wider manufacturing producers’ competitiveness, according to the CEO at the country’s plastics trade group Asipla.

INSIGHT: Global chemical prices plunge with oil amid tariffs
The tariffs imposed by the US and the uncertainty of what will follow has caused a crash in oil prices and is one of the main factors behind a global decline in chemical prices in the days after the country’s April announcement of its reciprocal tariffs.

Valero may shut down California refinery in 2026
Valero has submitted notice to the California Energy Commission of its intent to idle, restructure, or cease refining operations at its Benicia Refinery by the end of April 2026, the US refining major said in an update on Wednesday.

Brazil’s chemicals production in ‘free fall’ as idle capacity hits 40%
Brazil’s chemicals industry is facing its worst performance in 30 years, with the producing companies in the sector operating at just 60% of installed capacity during January and February, the country’s trade group Abiquim said.

INSIGHT: Possible US mineral tariffs threaten chem, refiner catalysts
The US is taking steps that could lead to tariffs on imports of up to 50 critical minerals, many of which are used to make catalysts for key processes used by refiners and chemical producers.

Canada to keep using retaliatory tariffs, regardless of election outcome
Canada will continue resorting to retaliatory tariffs against the US – regardless of which party, the incumbent Liberals or the opposition Conservatives, wins the upcoming 28 April federal election.