Chemical businesses in China and the US, along with dependent sectors downstream in the supply chain, are currently trapped in dire straits amid a protracted and worsening trade war between the two countries.
On May 13, 2019, China announced tariffs ranging from 5% to 25% on 5,140 US products on a $60 billion target list. Products affected include beverages, batteries, and chemicals, among many others. The Chinese Ministry of Finance said the tariffs will take effect starting from June 1, 2019. 
This is a retaliation initiated against the US which increased tariffs to 25% on $200 billion of Chinese imports days ago. And there is now a further worry: US President Donald Trump has threatened to impose additional tariffs on $325 billion of Chinese imports.
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