Oil prices tumble to four-year low as US-China trade war fuels recession fears [Yahoo! Finance]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
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Source: Yahoo! Finance
US President Donald Trump's sweeping reciprocal tariffs have now come into effect, with China—currently the world's largest oil importer—facing 104% import duties. Since Trump's announcement of the new tariffs, Brent crude futures have dropped more than 19% to $60.41 per barrel, while West Texas Intermediate (WTI) futures plunged 20% to $57.06 per barrel—both marking their lowest levels since March 2021. On Tuesday, China vowed to “fight to the end” following Trump's threat of an additional 50% in tariffs. The US, meanwhile, remains committed to enforcing the full 104% levies. The intensifying trade war between the world's two largest economies has once again triggered a broad sell-off in risk assets. “For China, the tariffs could significantly drag down exports and industrial output—two key engines of growth—while the tech and EV sectors may be particularly hard hit. We're likely to see softer oil demand as a result,” Dilin Wu, a market analyst at Pepperstone Australia, said in
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