Asian nations hope Democrats can provide relief from Trump's Iran war and tariffs: Russell
USO•Asian nations hope Democrats will constrain President Donald Trump’s Iran war and trade tariffs. Asian fuel prices have surged since the conflict began, including spot LNG prices that have tripled to $32.50 per million British thermal units.
1. Energy costs rise
The US-Israeli war on Iran has driven up energy prices across Asia and raised concerns about supply. Singapore gasoil closed at $164.18 a barrel on Tuesday, 80% above its level before the war began; spot LNG prices for North Asia had tripled to $32.50 per million British thermal units, while Australian thermal coal rose 30% to $151.15 a metric ton.
2. Hopes for policy restraint
Asian nations are hoping Democrats can limit Trump’s ability to continue the conflict and moderate the impact of US trade tariffs. The article says countries also want more predictable treatment of allies, while noting uncertainty over whether Democrats can constrain Trump and concern about actions he might take before the new Congress first sits on January 3.
