US tariff effect: Shell says uncertainty a big threat

The real blow from US President Donald Trump’s tariffs is not higher supply chain costs but the uncertainty they inject into the global economy, disrupting the demand-supply balance and weighing on investment decisions, Shell’s global chief of projects and technology said.

“The primary effect is on our supply chain. It becomes more expensive and for a company like Shell it’s something that we could actually deal with,” Robin Mooldijk, president, projects & technology at Shell, told ET in an interview. “But the bigger (effect) is even on the investments. Does it change the business climate and the supply-demand balance to the extent that—a little bit cheaper or a little bit more expensive project, doesn’t really matter—do we want to do it or not.”