China tariffs

Grading Trump’s China trade deal: F

Wide view of a container marine terminal with cranes, containers and trucks on a sunny day.

Former President Donald Trump claimed his strong tariffs forced the Chinese government in December 2019 to make a trade deal headlined by $200 billion in annual commitments to purchase U.S. exports. The reality: China ended up buying none of the promised goods and the trade war did little to change China’s economic policymaking while hurting the U.S. economy.

That’s the verdict of Chad Bown, senior fellow at the Peterson Institute for International Economics. 

His analysis of new Commerce...

https://www.freightwaves.com/news/grading-trumps-china-trade-deal-f

Industry groups say ending China tariffs would offset supply chain pain

Two-sided photo with a large container vessel on the left and a tariff stamp on the right.

The U.S. trade representative has extended for 45 days tariff exemptions on face masks and related medical care products made in China, but a major trade association says the exemption’s scope should be widened and more Trump-era tariffs should be rolled back to help businesses cope with rising import costs associated with unprecedented port congestion.

So far, the Biden administration has resisted calls from the business community to lift the tariffs on half a trillion dollars of Chinese goods. 

https://www.freightwaves.com/news/industry-groups-say-ending-china-tariffs-would-offset-supply-chain-pain

How China became the big winner of the COVID era

China

When news first broke of the COVID lockdown in Wuhan, the initial prediction was: The virus will cripple the economy of China, which is the engine of global trade, and that will be terrible for the shipping business.

Eighteen months and 3.9 million deaths later, the pandemic has had the opposite effect. Ships are full and, ironically, the country where the outbreak began is seeing the biggest and broadest economic upside.

Chinese exports are now much higher than they were before the outbreak,...

https://www.freightwaves.com/news/how-china-became-the-biggest-winner-of-the-covid-era

Borderlands: Mexico remains top US trade partner, Canada No. 2

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico remains top US trade partner; second USMCA labor complaint lodged at Mexican factory; Hyliion expands Texas headquarters; and avocado imports from Mexico up 26%.

Mexico remains top US trade partner, Canada No. 2

For the second month in a row, Mexico was the main trading partner of the U.S., followed by Canada in second place and China in third. 

Trade between the...

https://www.freightwaves.com/news/borderlands-mexico-remains-top-us-trade-partner-canada-no-2

COVID supply chain disruptions reinforce ‘China+1’ strategy

A green Toll Group container sitting on a rack.

A new survey of manufacturing and retail customers by third-party logistics provider Toll Group is reinforcing the narrative that the coronavirus pandemic is accelerating moves to diversify product sourcing away from China.

A quarter of customers are now planning to transition some of their operations out of China in the next three years, the global logistics powerhouse said. Melbourne, Australia-based Toll is the 17th largest 3PL in the world by gross revenue, according to Armstrong &...

https://s29755.pcdn.co/news/covid-supply-chain-disruptions-reinforce-china-1-strategy

FreightWaves wins 4 Gold and 9 total Azbees for editorial excellence

Azbee awards

FreightWaves captured nine American Society of Business Publication Editors (Azbee) awards, including a National Gold and four Regional Gold Awards.

The association, which represents business-to-business (B2B) publishers, announced the winners of its Regional and National Azbee Awards of Excellence last week. Over 1,000 entries were received in 2020, covering 63 categories in all across B2B publishing in both online and print categories.

FreightWaves earned a National Gold Award for its coverage...

https://s29755.pcdn.co/news/freightwaves-wins-4-gold-and-9-total-azbees-for-editorial-excellence

United Airlines to reintroduce China service in July

White jet, blue tail, United Airlines at airport gate.

U.S. airlines are taking advantage of a mild loosening in Chinese aviation restrictions to restart service to mainland China, a key market for rebuilding revenues and for shippers with goods to move.

United Airlines (NASDAQ: UAL) announced Friday that it will resume service to China with twice-weekly flights between San Francisco and Shanghai Pudong International Airport beginning on July 8. The flights will operate with a Boeing 777-300ER aircraft and route through Seoul, South Korea. Prior to...

https://s29755.pcdn.co/news/united-airlines-to-reintroduce-china-service-in-july

US-China airline quarrel exacerbates supply shortage for cargo

Big white jet in air after takeoff, flying overhead

The air service dispute between the U.S. and China over resuming passenger air travel will have spillover effects for airfreight shippers and other areas of trade as the relationship between the countries deteriorates, industry and legal experts say.

Limiting flights from each country perpetuates the shortage of cargo capacity resulting from the extensive shutdown of passenger operations due to the coronavirus outbreak and sets the stage for potential Chinese retaliation against other industry...

https://s29755.pcdn.co/news/us-china-airline-quarrel-exacerbates-supply-shortage-for-cargo

Remember the trade war? It’s back and at risk of escalating

President Trump

The U.S.-China Phase One trade deal is not dead, but it is on life support.

The two superpowers’ deteriorating relations in the wake of a Chinese security law covering Hong Kong has implications for container, tanker, dry bulk and gas shipping demand, as well as shipping stocks.

President Donald Trump alleged in a speech on Friday that China “ripped off the United States like no one has ever done before,” and “got away with theft” of hundreds of billions of dollars a year; that China “raided our...

https://s29755.pcdn.co/news/remember-the-trade-war-its-back-and-at-risk-of-heating-up

Join Our Newsletter
Enter your email to receive a weekly round-up of shipping news.
icon
By subscribing, you agree with our privacy policy and our terms of service.