FRANKFURT/HAMBURG ¨C Europe¡¯s chemical producers are facing fresh turmoil as U.S. import tariffs disrupt global trade, prompting customers to delay orders and hitting demand in a sector struggling to recover from the region¡¯s 2022 energy crisis.
The European Union¡¯s fourth-biggest exporting sector after machinery, automotive and pharmaceuticals, has been grappling in recent years with high production costs after gas and power prices soared following Russia¡¯s invasion of Ukraine.
That and slowing demand due to struggles in key industries have led some companies in the €655 billion ($767 billion) sector to close sites and cut jobs to save costs.
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