Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 26 July.

INSIGHT OUTLOOK: Next US president may upend EV policies, trade, regulations
The US election could see Donald Trump return as president with majorities in both legislative chambers, which could bring a reduction in excessive red tape, weaker support for electric vehicles (EVs) and impose even more ponderous tariffs and trade restrictions.

OUTLOOK: Red Sea diversions, tight capacity to pressure rates higher, but could ease in August
Tight capacity as vessels continue to divert away from the Red Sea and Suez Canal for the longer voyage around the Cape of Good Hope is likely to keep upward pressure on ocean freight rates, but an early start and end to the typical peak season could provide some relief.

INSIGHT: US chemical exports more exposed to China today as potential new trade war looms – ICIS analysis
As campaigns heat up heading towards the US elections in November, trade wars and tariffs are now front and center in the minds of global chemical players. Producers and customers must brace for the prospects of higher tariffs, particularly on Chinese imports, as well as retaliatory tariffs by China.

Dow sees B&C, consumer durables weakness persisting through 2024, rate cuts needed – CFO
Weakness in building and construction, and consumer durables demand is expected to persist through 2024, likely pushing out a meaningful earnings recovery to 2025, Dow’s chief financial officer said on Thursday.

INSIGHT: Venezuela’s petchems may finally get a chance – but unlikely to be under Maduro
Venezuelans go to the polls on Sunday with the hope of a free and fair election, in which case President Nicolas Maduro is widely expected to lose office in a country where the economy has been battered by years of mismanagement, corruption, and US sanctions.