美國貿易戰升溫，塑膠回收產業陷入高關稅困境

美國關稅政策風向飄忽，塑膠回收業者籠罩在貿易戰陰霾之中

美國前總統川普於4月2日再度對進口商品啟動新一輪關稅措施，對大多數國家商品加徵10%基本關稅，並針對特定國家實施更高稅率的專項關稅。這項舉措迅速引發多國報復性關稅行動，對全球貿易格局造成衝擊。儘管川普於4月3日宣佈，針對部分國家的加徵關稅將暫緩90天執行，但基本10%關稅仍將維持不變。白宮稍後進一步說明，加拿大與墨西哥若商品不符合美墨加協定（USMCA）條件，仍將面臨25%的關稅，而對中國的關稅則提高至驚人的125%。

On April 2, former U.S. President Donald Trump announced a new round of tariffs on imported goods, imposing a baseline 10% tariff on most imports and significantly higher targeted tariffs on specific countries. The move quickly triggered retaliatory tariff actions from multiple countries, disrupting global trade dynamics. Although Trump announced on April 3 that some country-specific tariffs would be delayed for 90 days, the base 10% tariff will remain in place. The White House later clarified that Canada and Mexico could still face a 25% tariff on goods that do not comply with the United States-Mexico-Canada Agreement (USMCA), while tariffs on Chinese goods were raised to a staggering 125%.

這一系列變化快速且難以預測，塑膠回收業者與相關產業對此深感不安，擔憂全球貿易體系的震盪將波及原料供應、回收再生料價格、設備成本與整體產能規劃。

rPET暫時倖免於關稅衝擊，但未來仍存不確定風險

These rapid and unpredictable developments have left plastic recycling companies and related industries deeply uneasy, fearing that disruptions to the global trade system could impact raw material supply, recycled resin prices, equipment costs, and overall production planning.

rPET Temporarily Spared From Tariff Impact, But Risks Remain

In the plastic recycling sector, recycled polyethylene terephthalate (rPET) has, for now, escaped the latest 25% tariff hike. According to Emily Friedman, Senior Editor for Recycling at ICIS, rPET imports from Mexico and Canada are currently exempt due to their compliance with USMCA rules. This is a significant relief for North American recyclers, as rPET is a crucial input for bottled water, beverage containers, and packaging, and plays a key role in both recycling and downstream resin markets.

在塑膠回收領域中，回收聚對苯二甲酸乙二醇酯（recycled PET，簡稱rPET）目前暫時避開了最新一輪25%高額關稅。根據ICIS回收塑膠資深編輯Emily Friedman指出，來自墨西哥與加拿大的rPET因符合USMCA規範，暫不受此次加徵影響。這對北美地區的回收業者來說無疑是一大喘息機會，因為rPET是瓶裝水、飲料罐與包裝材料的重要來源，對整個回收與下游再生料市場具有關鍵地位。

目前，加美之間的rPET瓶料與再生顆粒仍可順利交易，北美回收供應鏈也尚能維持基本穩定。然而，Friedman也提醒，關稅政策風險仍存，未來若貿易政策再度轉向，rPET也可能重新被納入關稅清單。

At present, trade in rPET bottle flake and pellets between Canada and the U.S. continues smoothly, and the North American recycling supply chain remains largely stable. However, Friedman cautions that the risk of future tariff inclusion persists, particularly if trade policies shift again.

PE and PP Markets Under Pressure as Recyclers and Exporters Face Dilemma

While rPET has been temporarily spared, recycled polyethylene (PE) and polypropylene (PP) are facing heavier tariff burdens. Tariff rates vary significantly by country of origin. For instance, natural-colored recycled high-density polyethylene (HDPE) pellets imported from Thailand already face tariffs as high as 46%, dramatically increasing raw material costs.

PE與PP市場承壓，回收與出口商進退兩難

相比rPET的暫時豁免，再生聚乙烯（PE）與聚丙烯（PP）則面臨較大關稅壓力。依據進口國來源不同，稅率差異極大。例如泰國輸美的再生高密度聚乙烯（HDPE）天然色顆粒，原本就須面對約46%的關稅，極大抬高了原料成本。

由於美國本土再生HDPE原料供應不足，美國進口這類原料通常來自英國、澳洲等地，這些地區的乳品產業回收量較高，而加拿大與墨西哥在此類原料上則較缺乏。

此外，美國PE出口商同樣面臨歐盟與中國潛在報復性關稅風險。根據Argus Media報導，2024年美國向中國出口的PE總量達240萬噸，占總出口量近17%；對歐盟出口則為226萬噸，占比約15%。一旦中歐兩大市場因報復關稅而降低採購，美國過剩的原料可能回流國內，導致再生料市場價格競爭加劇，壓縮回收業者的利潤空間。

國內市場供需變化與備貨行為干擾短期走勢

川普宣佈新關稅前，部分美國回收商早已預先備貨，以應對可能的價格上漲與供應鏈中斷。ICIS的Friedman分析指出，目前市場可能處於去庫存階段，因此短期內市場交易相對平靜。然而，這種預備性備貨行為也可能推遲新一輪市場回補需求，使價格短期內維持波動。

Given the limited domestic supply of recycled HDPE in the U.S., these materials are often imported from countries like the U.K. and Australia, where robust dairy industry collection systems exist. Canada and Mexico, however, are less prominent suppliers of such materials.

U.S. PE exporters are also bracing for potential retaliatory tariffs from the EU and China. According to Argus Media, the U.S. exported 2.4 million tons of PE to China in 2024, accounting for nearly 17% of total PE exports, while exports to the EU totaled 2.26 million tons (around 15%). If these major markets reduce purchases in response to the new tariffs, excess materials could flood the domestic market, intensifying price competition and squeezing recycler profit margins.

Short-Term Market Fluctuations Influenced by Stockpiling and Supply-Demand Shifts

Before Trump’s tariff announcement, some U.S. recyclers had already begun stockpiling inventory in anticipation of price increases and potential supply disruptions. ICIS’s Friedman noted that the market may now be in a destocking phase, which could explain the relative calm in recent transactions. However, this preemptive stockpiling may delay a new round of restocking demand, leading to short-term price volatility.

同時，由於政策變化頻繁，許多業者對與海外供應商建立新合作關係感到猶豫不決，更傾向發展多元、靈活的供應鏈以降低貿易政策風險。

製造成本上升、設備投資受阻，長期衝擊浮現

除了原料價格，回收設備與工廠設施建設成本也受到鋁與鋼鐵關稅影響。回收商Eureka Recycling的營運長Miriam Holsinger指出，某些回收分選機與零件僅能從國外進口，而原材料如鋁鋼也受國際價格波動影響，導致維修與擴建成本上升。

美國最大廢棄物管理公司WM的投資人關係主管Ed Egl亦表示，雖然收運端受影響不大，但資本支出部門已感受到壓力，尤其是新建工廠、回收設備升級等長期投資計畫將被延後或重新評估。

這可能對近年來積極推動循環經濟與包裝永續的產業政策造成衝擊。ReMA（Recycled Materials Association）亦於上週警告，關稅政策可能嚴重干擾依賴回收原料的美國製造與回收業運作，特別是那些正在投資循環包裝與回收再製系統的企業。

At the same time, the frequent shifts in trade policy have made many companies hesitant to establish new overseas supplier relationships. Instead, firms are focusing on developing diversified and flexible supply chains to mitigate trade-related risks.

Rising Production Costs and Investment Delays Signal Long-Term Impact

Beyond raw material prices, tariffs on aluminum and steel are also affecting the cost of recycling equipment and facility construction. Miriam Holsinger, Chief Operating Officer at Eureka Recycling, noted that some sorting machines and parts can only be sourced internationally, and price volatility in metals has pushed up costs for repairs and expansion.

Ed Egl, Head of Investor Relations at WM, the largest waste management company in the U.S., echoed this sentiment. While collection operations remain largely unaffected, capital expenditures are under strain, particularly for new facility construction and equipment upgrades. Many long-term investments are now being postponed or reevaluated.

This could pose a setback to the momentum behind circular economy and sustainable packaging policies. The Recycled Materials Association (ReMA) warned last week that tariff policy could severely disrupt operations for U.S. manufacturers and recyclers that depend on recycled feedstocks - especially those investing in circular packaging and advanced recycling infrastructure.

循環經濟策略面臨新挑戰，但轉型仍是關鍵

儘管面臨貿易與政策不確定性，產業專家仍認為持續推動產品循環再利用仍是長期解方。Eureka Recycling指出，建立真正的循環回收體系，例如讓一個回收瓶罐能再被製成同等級的容器，可在需求下滑時自然減少生產，緩和價格震盪。

Circular Economy Strategies Face New Challenges, But Remain Key to Long-Term Resilience

Despite the trade and policy uncertainty, industry experts believe that advancing circular product design remains the best long-term solution. Eureka Recycling emphasized that building a truly circular recycling system - where a recycled bottle can become a container of equal quality again - allows for production to contract naturally when demand drops, thereby easing price shocks.

Holsinger強調：「若市場上採購量減少，產品循環設計將確保同樣減少的廢棄量與生產需求相匹配，有助穩定產業結構。」

“If market demand decreases,” Holsinger explained, “circular product design ensures a corresponding reduction in waste generation and production needs, which helps stabilize the industry structure.”

這場貿易戰對塑膠回收業的影響仍在發酵，未來幾個月內政策走向、談判結果與市場反應都將是產業密切關注的焦點。無論是短期價格波動還是長期投資趨勢，業者都必須在政策搖擺中尋找穩定立足點。

As the effects of this renewed trade war continue to unfold, policy directions, negotiation outcomes, and market responses in the coming months will be closely watched by the industry. Whether navigating short-term price swings or long-term investment decisions, recyclers must seek stability amid the uncertainty of shifting trade policies.