Chemical firms fall as Trump tariffs fuel demand concerns

Chemical firms' shares down premarket after President Donald Trump unveiled sweeping tariffs on U.S. imports

Trump imposed a 10% baseline tariff on all trade partners, with higher duties on dozens of countries, including China

Tariffs will likely raise prices for consumers, who as a result will buy fewer goods, leading to lower volumes for chemical firms, Morningstar analyst Seth Goldstein says

"Given the high fixed cost nature of chemicals production, lower volumes would have an outsized impact on profits, so we could see another year of declining profits if widespread tariffs are implemented" - Goldstein

Chemours CC.N down 4.2%, Celanese CE.N 3.1%

Dow DOW.N and Dupont DD.N down 3.2% and 2.3%, respectively

Eastman Chemical EMN.N down 1.8%, Sherwin-Williams SHW.N 2.7%