Oil may fall in price by 30% in the case of a "trade war" between the US and China

World prices for raw materials can fall sharply in the event of a further sharpening of trade relations between the United States and China.

It is reported by Interfax with reference to Oversea-China Banking Corp. analysts.

In particular, the cost of major varieties of oil can fall by 30%, metals - by 15%, platinum and silver - by 10%.

At the same time, the value of gold, as one of the protective assets, may increase by 20%.

Previously, its forecasts on the impact of aggravation of trade relations between the world's largest economies were also made public by the European Central Bank. So, according to the ECB, world GDP may fall by 1% if both countries do not sit at the negotiating table.

Recall that on the evening of April 5, Donald Trump announced plans to extend the $ 100 billion Chinese import tariff restrictions.

Previously, China announced its intention to introduce a 25% duty on US $ 50 billion of US imports in response to similar US actions.

This decision by the authorities of the People's Republic of China, in response to the decision of the administration of Donald Trump, introduced additional customs restrictions on Chinese imports to the country for a total of about $ 50 billion . The day before, in response to such actions, China introduced similar tariffs of $ 3 billion of US goods imported into the PRC.

In addition, Donald Trump introduced import duties on steel (25%) and aluminum (10%). The orders signed by the president came into force on March 23. Mexico and Canada are still excluded from the list of countries.

Merkel condemned the introduction by the United States of duties on metals.

The Ukrainian government has said it is working to bring Ukrainian metal products out of US customs duties.

hromadske.ua  In Ukrainian/український