Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 23 May.

Europe PE, PP sentiment shifts positive for some players on US-China tariff climbdown
Sentiment is shifting firmer for some polyethylene (PE) and polypropylene (PP) players in the past week, driven largely by the de-escalation of the US-China tariff war.

Germany, Europe chemicals bounce back, but pessimism persists
Germany and Europe’s chemical sector bounced back strongly in the first quarter of 2025, but the outlook for the rest of the year remains clouded by fears over the impact of the trade war.

Germany’s chemical industry remains weak, despite Q1 ‘sprint’ – VCI economist
The strong performance of Germany’s chemical-pharmaceuticals industry in the 2025 first quarter cannot mask the underlying weakness in chemicals, according to the chief economist of German chemical producers’ trade group VCI.

EU backs tariff hike for fertilizers from Russia and Belarus
The European Parliament made the decision to impose higher tariffs on fertilizers and certain agricultural products from Russia and Belarus on Thursday.

US to hit EU imports with 50% tariffs starting 1 June
US President Donald Trump has warned of plans to impose a  50% tariff on imports from the EU starting on 1 June.