Commodities Battered as Trump's Tariffs Threaten Global Economy
Oil and other commodities such as industrial metals and grains fell due to President Donald Trump's tariff increases, which threaten to hurt the global economy and demand for raw materials. The tariffs, which exempted some commodities like oil and certain metals, sparked concerns about a broader hit to consumption, with major trading partners China and the European Union vowing countermeasures. The trade war poses a risk to various industries, including the US liquefied natural gas export industry, and could impact demand for commodities like soybeans and cotton, which are heavily reliant on Chinese markets. Bloomberg's Mike McGlone reports. (Source: Bloomberg)
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