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U.S. Will Lose From Trade War as Flows Shift, Top Miner Says

  • Mackenzie expects ‘dampening effect’ on growth from the curbs
  • Top miner says U.S. steel users now paying ‘considerably more’
Bloomberg business news
BHP CEO Mackenzie discusses earnings, cash flow, forward guidance, business in China, commodity prices, and strategy.(Source: Bloomberg)
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The U.S. risks losing out from its curbs on trade as rival nations including China will seek to do more business with each other, BHP Billiton Ltd. Chief Executive Officer Andrew Mackenzie warned as the head of the world’s largest miner stepped up his criticism of rising protectionism.

“There’s a lot of countries in the world that want to trade more with each other, now that it looks like the U.S. wants to trade less with them,” Mackenzie said in a Bloomberg Television interview, citing discussions with global trade ministers. “China will absolutely look to walk in that area and look to find exports with other people,” he said after BHP reported earnings.