TARIFFS

First win for Donald Trump?

CHICAGO (Reuters) – China on Wednesday (Dec. 12) made its first major purchases of U.S. soybeans since President Donald Trump and his Chinese counterpart Xi Jinping struck a trade war truce earlier this month, providing some relief to U.S. farmers who have struggled to find buyers for their record-large harvest.

Trump told Reuters in an interview on Tuesday the Chinese were already buying a “tremendous amount” of U.S. soybeans and would also soon cut tariffs on U.S. autos.

The purchase of over...

http://container-news.com/first-win-donald-trump/

NRF welcomes delay of tariff increase

The National Retail Federation issued the following statement from President and CEO Matthew Shay in response to the Trump administration’s decision to hold off on tariff increases that were set to take effect January 2019.

“We commend President Trump for his efforts to restore a fair and balanced trade relationship with China. The administration’s decision to give diplomacy a chance and at least temporarily avoid the imposition of increased and additional tariffs is an encouraging sign.

“It is...

http://container-news.com/nrf-delay-tariff-increase/

U.S. & China agree on trade war ceasefire

China and the United States agreed to a ceasefire in their bitter trade war on Saturday (Dec. 1) after high-stakes talks in Argentina between U.S. President Donald Trump and Chinese President Xi Jinping, including no escalated tariffs on Jan. 1.

Trump will leave tariffs on $200 billion worth of Chinese imports at 10 percent at the beginning of the new year, agreeing to not raise them to 25 percent “at this time”, the White House said in a statement.

“China will agree to purchase a not yet agreed...

http://container-news.com/u-s-china-trade-war-ceasefire/

Ports of Tacoma, Seattle express tariff fears

The ports of Tacoma and Seattle are having a late-year surge. For the first 10 months of the year, combined statistics show, total container volumes are up just 1.3 percent. But for October alone, container traffic was up 9.9 percent from the same month a year ago.

That could be a positive indicator about the health of the world economy, which would be reassuring news given some of the recent cautions and warnings about a slowdown.

It’s more likely, though, that the surge is driven by importers...

http://container-news.com/ports-tacoma-seattle-tariff-fears/

U.S.: Ports mark big numbers amid trade war

September and October were record months for many of the ports of U.S. as shippers prepared for a busy holiday shopping season and rushed to get cargo into the U.S. ahead of the Trump administration’s tariffs against several nations, including China.

The Port of Los Angeles processed a record 952,554 20-foot-equivalent units, or TEUs, in October, a whopping 27.2% increase from 748,762 in the same month in 2017. It was the busiest month in the port’s 111-year history.

“These robust cargo volumes...

http://container-news.com/u-s-ports-big-numbers-trade-war/

Maersk warns trade war will hit container shipping (Reuters)

COPENHAGEN (Reuters) – Top U.S. importers are stocking up on Chinese goods before new import tariffs take effect, shipping giant A.P. Moller-Maersk said on Wednesday (Nov. 14), but warned a trade war would hit demand for container shipping in the coming years.

Maersk’s data indicated that imports into the United States from China had grown 5 to 10 percent year-on-year in the third quarter as companies such as Walmart and Home Depot built up inventories to avoid new import tariffs, Chief...

http://container-news.com/maersk-trade-war-hit-container-shipping/

Worries about deepening trade war

  • China has been front-loading exports to the US ahead of a looming rise in tariffs in January.
  • Chinese stocks tumbled Friday on trade-war fears and worries about a slowing Chinese economy.
  • Experts are pessimistic about the outcome of a meeting between the two countries’ presidents at the G20 summit later this month.

Chinese exports to the US have risen this year as the country looks to get as many goods as possible off its shores before steeper tariffs arrive in January.

“This growth is due to...

http://container-news.com/worries-deepening-trade-war/

Port of Oakland rises, despite trade war

A U.S.-China tit-for-tat over tariffs hasn’t dampened cargo volume growth at the Port of Oakland. In fact, the Port is on track for its third straight year of record container volume in 2018.

But can it last?  That’s the question supply chain experts pondered this week at the quarterly meeting of the Port’s Efficiency Task Force. Forty trade and transportation executives ranging from longshore labor representatives to cargo owners gathered to discuss trade dynamics. Their consensus: cargo volume...

http://container-news.com/port-oakland-rises-trade-war/

Traders rush to beat higher tariffs – China numbers boosted

China reported much stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariff rates due to kick in at the start of next year.

Import growth also defied forecasts for a slowdown, suggesting Beijing’s growth-boosting measures to support the cooling economy may be slowly starting to make themselves felt.

The upbeat trade readings from China offer good news for both those worried about global demand and for the...

http://container-news.com/traders-rush-beat-higher-tariffs-china-numbers-boosted/

China promises to lower tariffs

Chinese President Xi Jinping promised today (Nov. 05) to lower tariffs, broaden market access and import more from overseas at the start of a trade expo designed to demonstrate goodwill amid mounting frictions with the United States and others.

The Nov. 5-10 China International Import Expo, or CIIE, brings thousands of foreign companies together with Chinese buyers in a bid to demonstrate the importing potential of the world’s second-biggest economy.

In a speech that largely echoed previous...

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