Trade in polyethylene resin and finished
products slowed in the fourth quarter of 2018, becoming a casualty of the
US-China trade war.
Last year, the Trump Administration launched a full-scale trade war with China, imposing three rounds of tariffs worth a cumulative $250 billion on Chinese products.
The move was intended to counter China’s
practice of requiring US companies to turn over intellectual property as a
condition for gaining access to the world’s second-largest economy. China
responded with $110 billion in tariffs on US products, also in three rounds,
signaling a commitment to protecting its interests and economic growth.
The petrochemical-heavy second and third
rounds of these tariffs came as the US chemical industry started up the first
wave of more than