Jet fuel prices tracked higher after the US and China agreed to start trade talks. A tariff war between the world’s two largest economies could halve global air passenger growth this year, warned the International Air Transport Association in its latest market outlook. Few details came out of a Jun. 5 telephone conversation between US President Donald Trump and Chinese leader Xi Jinping, other than the promise to meet soon. Trafigura’s new CEO, Richard Holtum, predicts further fuel price volatility to come. He warned price moves will be driven less by fundamentals and more by “changes in policy and trade frameworks around the world," after his company reported lower first-half earnings. Trump shocked markets midweek when he decided to double US tariffs on almost all steel imports to 50%.