(Bloomberg) -- Donald Trump’s vow to impose steep tariffs to boost US manufacturing and create jobs threatens to drive down commodity prices, Bank of America commodity strategist Francisco Blanch said.
“America first means commodities second,” Blanch said on Bloomberg Television Monday.
Trump has vowed to levy tariffs of 20% on all foreign goods and 60% on imports from China. While it’s difficult to forecast the impact, some experts warn the strategy will increase inflation.
The Trump administration is also likely resume issuing export permits for exporting liquefied natural gas, Blanch said.
The Biden administration had stopped issuing licensees in January to send LNG to nations the US doesn’t have free trade agreements with as officials undertake a study on the potential environmental, economic and national security impacts of the exports.
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