Americas top stories: weekly summary

HOUSTON (ICIS)–Here are the top stories from ICIS News from the week ended 7 March.

LyondellBasell to build metathesis unit to make propylene
LyondellBasell has approved plans to build a metathesis unit in Channelview, Texas, that will convert ethylene into propylene, the producer said on Monday.

INSIGHT: US to export more chem feedstocks amid drought of US cracker projects
US production of ethane, propane and other natural gas liquids (NGLs) will continue to grow while domestic demand for these chemical feedstocks will likely remain flat, a trend that is contributing to a surge in new terminal projects that will export these products to growing markets overseas.

Chem shares plunge as US proceeds with 25% Canadian, Mexican tariffs
US-listed shares of chemical companies fell sharply – many by more than 5% – on Monday as the US proceeds with plans to impose tariffs on Canada, Mexico and China, its three biggest trading partners.

INSIGHT: Retaliatory tariffs to compound pain for US chemicals and key end markets
The US ramping up additional tariffs on China to 20% and kicking off 25% tariffs on Mexico and Canada (10% on energy) as of 4 March will hit chemical and key end markets and products as players rush to reconfigure supply chains.

US to delay automobile tariffs for one month
The US will grant a one-month tariff exemption for the nation’s automobile industry, the government said on Wednesday.

US to delay tariffs on USMCA-compliant goods from Mexico for one month – Trump
The US will delay until 2 April imposing tariffs on Mexican goods that fall under the US-Mexico-Canada Agreement (USMCA), President Donald Trump said on Thursday, 6 March in a post on Truth Social.

Wall Street turns more bearish on US chemicals on tariff uncertainty
Wall Street analysts are turning more negative on the earnings outlook for chemical companies on increasing US tariff uncertainty.

Canada delays second phase of retaliatory tariffs, Ontario plans electricity export tax
Canada is delaying its second phase of retaliatory tariffs on goods imported from the US to 2 April, a minister announced on Thursday evening.

INSIGHT: US tariffs may persist as they become policy pillar
The US government is coming to embrace tariffs as a central part of its economic and fiscal policies, a development that could see such measures persist and threaten margins for the nation’s chemical producers.