US President Trump doubled the tariff on all Chinese imports to 20% earlier this month, which could lead to Chinese companies flooding other markets with cheaper products, including chemicals..Indian chemicals companies might also feel the heat of potential reciprocal tariffs by the US.

There are no winners in trade wars,” Kallas said on the sidelines of a G7 meeting in Canada. “Who is laughing on the side or looking at the side is China. It’s really benefiting from the U.S. having a trade war with Europe.

The US is "prepared" to go to war with China as the trade war between the two countries heats up, defence secretary Pete Hegseth has declared. The bold statement comes in response to the Chinese Embassy sharing online that it was "ready to fight till the end" whether it be in the form of a "tariff war,