On May 3rd, German chemical giant BASF issued a warning on May 2nd regarding the recent increase in tariffs imposed by the United States. The group stated that although the direct business impact is still “controllable” at present, the unilateral measures of the US are undermining the stability of the industrial chain, leading to a decline in customer confidence and intensified order fluctuations. BASF’s Chief Financial Officer Dirk Elfman pointed out on the same day during the release of the group’s first quarter financial report that the volatility of tariff policies, the unpredictability of further decisions by the United States, and possible response measures from other trading partners are impacting global market sentiment. According to him, the overall economic environment of the group in the first quarter was weaker than expected, and the external risks faced by the enterprise were much higher than the judgment at the beginning of the year.
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