Trade tensions a hot topic at LME Week

THE current trade tensions between China and the US has unsurprisingly been a popular topic at this year’s LME week and although speakers had different views on whether the tensions would persist and/or intensify, most agreed it was causing uncertainty in commodities markets.

Trade tensions a hot topic at LME Week Trade tensions a hot topic at LME Week Trade tensions a hot topic at LME Week Trade tensions a hot topic at LME Week Trade tensions a hot topic at LME Week

Fighting it out: trade tensions between the US and China were on the front of everyone's minds at LME Week 2018

Chatham House associate research fellow for global economy and finance Jim Rollo said on a panel addressing geopolitical issues and metals markets that, while the escalating trade conflict currently dominated discssion about the intersection of politics and economics, only about 2% of global trade was affected.

So far, the US has imposed US$250 billion of tariffs on Chinese imports, with president Donald Trump threatening to ramo this up to as much as $500 billion.

In retaliation, China has imposed tariffs worth around $100 billion.

Rollo said there had "clearly been a change in the atmosphere because what we've seen now is an increase in uncertainty", with both China and the US looking for other markets for their exports.

Financial Times'