Tariff tensions between the U.S. and China, which are currently engaged in a tit-for-tat trade war, have negatively impacted BASF which has a large presence in China, the world's largest chemical market.
div > div.group > p:first-child"> "The biggest issue here is the uncertainty. Uncertainty is causing problems with planning," Sanjeev Gandhi, a member of the board of executive directors at German chemicals firm BASF, told CNBC on Sunday."The uncertainty is also affecting our business negatively."
"The expectation is that there is a solution found, and the solution comes soon," Gandhi told Eunice Yoon at the China Development Forum in Beijing."Short term, this will lift the sentiment of the market, it will clear away the uncertainties, and hopefully that brings us back to business as usual." Reuters reported that the deal concluded quickly, in part due to fears that the U.S.-China conflict could hurt investment prospects in Guangdong. That in turn prompted government officials to be more open to the BASF deal, the news agency said, quoting people familiar with the matter.
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