TARIFFS

Port of LA anxious about proposed new tariffs

Port of Los Angeles, the largest single gateway for waterborne containerized cargo entering and leaving the United States, warned the proposed new tariffs on goods from China would create unintended negative impacts to the nation.

In a comments letter issued to the United States Trade Representative (USTR) on Monday, the port listed higher consumer prices, lower profitability for American firms, uncertainty in the maritime supply chain, and the potential shifting of trade routes to the detriment...

https://container-news.com/port-la-anxious-new-tariffs/

Two European countries could be the big winners from the US-China trade war, Barclays says (CNBC)

France and Germany could be the biggest beneficiaries in an escalation in trade tariffs between the U.S. and China, Barclays economists have projected.

U.S. Commerce Secretary Wilbur Ross reiterated on Monday that President Donald Trump is “perfectly happy” to slap tariffs on the remaining $300 billion of Chinese imports if the world’s two largest economies fail to agree a trade deal.

However, Christian Keller, head of economic research at Barclays, suggested in an analyst note that trade...

https://container-news.com/two-european-countries-big-winners-us-china-trade-war/

Trump tariffs threaten world economy, Italy at a crossroads

USA’s president Donald Trump

Trump tariffs threaten world economy, Italy at a crossroads

Commentary: Trump tariffs threaten world economy

By Desmond Lachman in Washington

Donald Trump’s hard-line stance on the China trade issue could lead to a slowing in the world’s second largest economy. This is bound to have spillover effects on economies with which the country has strong trade links, and could contribute to global financial market instability. Seemingly oblivious to the lessons from the...

http://www.allaboutshipping.co.uk/2019/06/12/trump-tariffs-threaten-world-economy-italy-at-a-crossroads/

Oakland: Shippers anxious about tariffs impact

Volume up but trade war squeezes shippers

Cargo volume is up again at the Port of Oakland in 2019, but for how long? That’s the question Maritime Director John Driscoll posed this week to 50 trade executives assembled in Oakland.

Mr. Driscoll warned the Port’s Efficiency Task Force that tariffs are squeezing customers who ship through his port. Fallout from an ongoing U.S.-China trade war could include reductions in containerized cargo volume, he indicated.

“Our customers are impacted by tariffs,”...

https://container-news.com/oakland-shippers-anxious-tariffs-impact/

In Trump’s trade war with China, west coast ports are ‘gummed up’

Tariffs, and the uncertainty surrounding them, are causing havoc at US ports. The Los Angeles Times reports that shippers are facing huge traffic jams and containers are piled up on the dockside, incurring thousands of dollars in port fees, while distribution centres are overflowing. But still, shippers are bringing in more inventory, worried about the threat of new tariffs. Los Angeles and Long Beach have been badly affected and are “gummed up”, according to …

The post In Trump’s trade war with...

https://theloadstar.com/in-trumps-trade-war-with-china-west-coast-ports-are-gummed-up/

Mexican president optimistic about reaching deal with U.S.

Mexican President Andres Manuel Lopez Obrador said Saturday, June 1, he was optimistic about reaching an agreement with Washington over the proposed punitive tariffs on imported goods coming from Mexico.

“There is a willingness on the part of U.S. officials to establish a dialogue and reach agreements,” Lopez Obrador told reporters at a press conference in Veracruz, a major port city on the Gulf of Mexico.

On Thursday, U.S. President Donald Trump announced that the United States will impose 5...

https://container-news.com/mexican-president-optimistic-reaching-deal-us/

‘Trump card’ played in US-China trade war could mean a winning hand for carriers 

Against the backdrop of an escalating US-China trade war, transpacific ocean carriers have had some success this week in lifting spot rates between Asia and the US west coast. 
There was also a spike in long-term contract rates recorded this month that will be welcome news for the loss-making container lines. 
The Shanghai Containerized Freight Index (SCFI) recorded a 13.7% jump today for US west coast spots, to $1,471 per 40ft, in reaction to blank sailing announcements from carriers …

The post

https://theloadstar.com/trump-card-played-in-us-china-trade-war-could-mean-a-winning-hand-for-carriers/

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