World News
China Raises Tariffs on US Imports to 84%
China's government has raised tariff rates on imports of US products to 84% in response to escalating trade levies from the Trump Administration.
The rate will be increased to 84% from 34% previously as of the start of April 10, China's Finance Ministry said in a statement on its website on Wednesday.
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 increased the US tariff rate on Chinese goods by another 50% as of the start of Wednesday in response.
"The US's escalation of tariffs on China is wrong, seriously infringing on China's legitimate rights and interests, and seriously damaging the rules-based multilateral trading system," China's Finance Ministry said in its statement.
ICE Brent crude futures traded at $59.12/bl as of 12:15 PM in London on Wednesday, down from $62.82/bl at the previous day's close.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 486.00 | 0.00 | 595.50 | 0.50 |
| Rotterdam | 442.00 | 0.50 | 599.50 | 1.50 |
| Houston | 463.00 | 7.00 | 611.00 | 4.50 |
| Fujairah | 483.00 | 2.50 | 714.00 | 3.50 |
| Global 20 Ports Average | 521.00 | 3.00 | 700.00 | 2.00 |
| Global 4 Ports Average | 468.50 | 2.50 | 630.00 | 1.50 |
| Global Average Bunker Price | 564.00 | 3.00 | 747.50 | 5.50 |
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