Fitch Ratings warned that falling demand for commodities is the main risk to global commodity markets from proposed U.S. tariffs and any measures that may occur in response from affected countries.
U.S. President-elect Donald Trump has vowed to impose higher tariffs on imports of goods from abroad, both in general, and pledges on countries such as China, Mexico, and Canada.
Potential U.S. tariffs on China, Canada, and Mexico would weaken global economic growth, especially in China, the world's main consumer of commodities. Markets for basic metals, chemicals, and oil will come under pressure. China's stimulus package could ease some of the pressures.
Source (CNBC Arabia Website, Edited)
