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Anglo American’s highest executive, Duncan One Blood, has warned that US President Donald Trump’s new tariffs will increase the cost of mining business for many years.
Wanblad’s remarks threaten global trade wars that overturn the flow of petroleum and gas, and will maintain the scope of the business -dependent and basic metals.
Trump’s wise ratling lowered several large mining group shares, with more than 2 % of London concluded Glencore and Anglo American on Monday.
One Blood warns that Trump’s tariffs to Canada and Mexico and the threat of freezing funds to South Africa over the new laws that allow public interest land exposions will lead to market volatility and inflation.
“One of the things I’m convinced is that (tariffs) will be inflation in all situations. As a result, we will confirm that production costs will rise almost anywhere,” he said. Ta.
However, it is unknown whether Trump will stick to his plan, as President Mexico, Claudia Symbaum, stated that the tariff was suspended after the discussion with the US President. Canadian Prime Minister Justin Toldo is also trapped in a talk with Trump.
Anglo’s boss stated that the short -term impact on the mining group was unknown according to the region, tariff level, and the place where the product was purchased. “I don’t know what to do with the (Trump) statement, except for being able to do everything without it.”
Wanblad’s opinion on tariffs repeats the highest executive of other mining. They are all evaluating the impact on higher tariffs, especially the amount of petroleum and gas reserves, gold and copper and other resources.
According to the Financial Times in January before the customs duties was announced, William Oplinger, the highest executive of Aluminum producers, said that the tax on the import of Canada was “the US aluminum price is greatly higher.” He said that it was.
“In the end, the price of a pickup truck and beer cans will be made,” he said. “It’s really difficult to judge how much demand is destroyed. If the price is significantly high in the United States and you have to put some pressure on the demand of aluminum.”
Duncan Hobbs, Analyst of Trader Concord ResourceS, stated that the impact of tariffs would be reflected in the premium paid by metal users on the US physical metal benchmark exchange price.
According to BMO analysts, “It is likely that both Canadian producers and US consumers will be able to re -route the supply chain and avoid new duties. 。
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In fact, they say that it is likely that Canadian metals are diverted to Europe and that the United States will import more from other areas, such as Australia.
Such a change is “creating a longer supply chain and increasing US insurance premiums.”
In investing in the African mining in the African mining in Cape Town on Monday, Minister of Minister, Minister of Mining South Africa, calls African countries to stop mineral exports to the decision of Trump to stop the funding support program on the continent. I did it.
“They want to refrain from funding, but they still want our minerals,” he said. “Let’s refrain from mining. Africa has to claim itself.”
