Chemicals manufacturers including DowDuPont might be expected to face a significant exposure to the U.S. – China trade war. The U.S. has applied tariffs to Chinese chemicals exports worth $4.9 billion in the past 12 months, or 44.7% of all chemicals. There has been some evidence of stockpiling ahead of September’s duties with a 40.2% rise in the month of September on a year earlier. Yet, DowDuPont’s CFO, Howard Ungerleider, has indicated that the impact from increased tariffs in 2019 is equivalent to 0.8% of pre-tax profits and that the company follows a localized pr...