President Donald Trump recently declared the U.S. is going “back to plastic.”
The industry groups representing the world’s largest plastic and chemical manufacturers aren’t convinced, following Trump’s announcement that he would impose a universal 10 percent tax on all imports, and higher “reciprocal” rates against countries with trading policies the administration deemed unfair.
“These new tariffs will disrupt supply chains, increase production costs and undermine our global competitiveness,” said Matt Seaholm, CEO and president of the Plastics Industry Association, or PLASTICS.
The U.S.’s top chemical trading partners — with the exception of Canada and Mexico, which were spared from new tariffs — will face the highest burdens, according to federal chemical trade data tabulated by Chemical and Engineering News.
