World News
US Proceeds With Additional 50% Tariff on Imports From China
The Trump Administration has proceeded with its plan to impose an additional 50% tariff on US imports from China.
The new tariff rate goes into effect as of the start of April 9, news agency AFP reported on Tuesday.
The Trump Administration had announced a 34% tariff on imports of Chinese products on April 2 - on top of previous tariff rates - prompting China to respond with a similar rate on imports from the US on April 4.
President Trump then threatened to impose an additional 50% tariff on Chinese products in response in a social media post on Monday. This planned move is now being proceeded with.
ICE Brent crude futures declined further on the news, extending sharp losses seen over the past week. The ICE June Brent contract traded at $63.09/bl as of 6:21 PM in London, down from $64.21/bl at the previous day's close.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 494.50 | 0.50 | 607.50 | 7.50 |
| Rotterdam | 451.00 | 3.50 | 611.50 | 4.00 |
| Houston | 471.00 | 2.50 | 628.00 | 1.00 |
| Fujairah | 491.00 | 0.50 | 719.50 | 1.50 |
| Global 20 Ports Average | 524.00 | 1.00 | 706.50 | 2.50 |
| Global 4 Ports Average | 477.00 | 1.50 | 641.50 | 3.50 |
| Global Average Bunker Price | 564.50 | 1.00 | 741.50 | 1.50 |
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