New US import duties cause metal and oil prices to fall

US President Donald Trump's recently announced import duty hikes at an additional USD 200 billion on Chinese wares are affecting prices of metals, energy sector products and agricultural goods.

Photo: Weatherford PR

Prices of oil, copper and other metals are in decline after US President Donald Trump announced further import duties at USD 200 billion on Chinese imports.

According to Reuters, further US levies on Chinese products are putting downward pressure on oil prices. Chinese products included in the new round of forthcoming customs include metals, energy sector products and agricultural goods, writes Bloomberg News.

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