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BUNKER INDEX :: Price Index, News and Directory Information for the Marine Fuel Industry
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The trade war noose tightens

By A/S Global Risk Management.



Michael Poulson, Global Risk Management. Image credit: Global Risk Management


Updated on 05 Jul 2018 07:22 GMT

ThetTrade war tightens as July 6 draws near. U.S. President Donald Trump shows no signs of retreating from implementing the announced tariffs tomorrow. However, China is not eager to implement retaliatory tariffs; "We will never fire the first shot and will not implement tariffs ahead of the U.S.," the Chinese Ministry of Finance said in a statement late Wednesday. The U.S. already did impose tariffs on steel and aluminum, and this time another $34 billion worth of tariffs are due.

In general, the implemented tariffs by the U.S. are hitting a lot of U.S. allies, especially EU and Canada, who in response have imposed tariffs on U.S. goods. Furthermore, China and Mexico have imposed tariffs on U.S. goods as well.

According to Bloomberg, European officials are weighing the economic benefits of working more closely with China as this would benefit free trade; however, it has its political complications. Such an initiative could further affect the historic close ties between EU and the U.S.

Yesterday, Brent crude and WTI Crude were trading above $78 and $75, respectively. WTI was trading at its highest since late 2014

. The inventory count is to be released today and is expected to cause some volatility in the market.



A/S Global Risk Management is a provider of customised hedging solutions for the management of price risk on fuel expenses. The company has offices in Denmark and Singapore. For further details about its risk management products and services, please call +45 88 38 00 00 or email hedging@global-riskmanagement.com.






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