May 6, 2025 – The recent tariff hikes by the United States have drawn intense attention from the international chemical industry. On May 2, BASF Group, the German chemical giant, issued a stern warning regarding this matter, stating categorically that the unilateral actions of the US are inflicting severe damage on the global industrial chain.
BASF Group emphasized that although the direct impact of the current tariff policies on its business remains “manageable”, it is undeniable that these measures have already started to undermine the stability of the industrial chain. This has led to a slump in customer confidence in the market outlook, and the volatility of orders has become more pronounced. When releasing the group’s first – quarter financial report, Dirk Elvermann, the Chief Financial Officer of BASF, pointed out that the frequent changes in tariff policies, the unpredictability of future US decisions, and the possible countermeasures by other trading partners are constantly buffeting the overall sentiment of the global market.
According to AsiaMB, Elvermann revealed that the economic environment faced by BASF Group in the first quarter of this year was “overall weaker than expected”, and the external risks faced by the enterprise far exceeded the initial judgment at the beginning of the year. This tariff turmoil has cast an uncertain shadow over the future development of BASF and even the entire chemical industry. The follow – up situation is worthy of continuous attention.