Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 14 February.

IPEX: Asia finding a floor, up 1%; PVC and PP drive 1.3% index fall in Europe; USG toluene firms
The ICIS Petrochemical Index (IPEX) for January shows that northeast Asian chemical markets may be finding a floor after two consecutive months of declines, with the regional index up 1% – only its second gain in six months, driven by a 14.7% surge in butadiene due to rising crude oil costs.

US higher steel tariffs could backfire, reduce capex in chemical, industrial plants – ICIS economist
Potential US 25% tariffs on steel and other metals could ultimately reduce capital expenditure (capex) in chemicals and industrial plants as costs rise, according to an economist at ICIS.

US’ 25% tariffs on all steel, aluminium imports start 12 March
The US will start imposing 25% tariffs on all steel and aluminium imports starting 12 March, under the executive order signed by US President Donald Trump on 11 February.

INSIGHT: EU-Chile trade deal could benefit chemicals indirectly via higher minerals supply (part 1)
An interim trade accord between Chile and the EU kicked off on 1 February and the 27-country bloc is not shy about its main objective: get preferential access to the Latin American nation’s vast resources of raw materials.

INSIGHT: US reciprocal tariffs would have little direct impact on commodity chemicals markets – analysis
The threat of US reciprocal tariffs is the latest wrinkle in US trade policy, spurring players to game out potential impacts. For the US chemical industry, there should be little direct impact on commodity markets as imports largely originate from Canada and South Korea – countries that already have free trade agreements with the US.

Americas Styrenics sale process delayed as better market conditions expected later in 2025 – Trinseo
The potential sale of Americas Styrenics (AmSty) – the 50/50 joint venture between Trinseo and Chevron Phillips Chemical (CP Chem) is being delayed as better market conditions are expected later in 2025, said the CEO of Trinseo.

Reciprocal tariffs will match taxes on US goods by other countries; to take effect in April
The US plans to impose reciprocal tariffs on all countries as early as 2 April once the required investigations have taken place, President Donald Trump said on Thursday.

INSIGHT: US mulls reciprocal tariffs on Brazil ethanol, cabinet hopes steel quota is to be kept
Although the new US administration has so far only imposed tariffs on China, President Donald Trump keeps using the tariff threat as a form of negotiation and in the latter part of this week it was the turn of Brazil’s ethanol.