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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Protectionism will stoke US costs, warns BHP

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LONDON: Protectionism will result in higher prices for US citizens, a senior executive at BHP said, adding that the mining company was already seeing the effect. The world’s biggest listed mining company reported higher profits on Tuesday and said its business could weather market volatility linked to trade tensions between the United States and China.


However, Arnoud Balhuizen, head of marketing and supply, who oversees procurement as well as sales, said protectionism was likely to add to inflationary pressures.


“All economically rational people know that protectionism will not be good for the US population. It will increase prices in the US and we are seeing that in the onshore US (oil and gas) for example,” he said. — Reuters


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