Trade tariffs

Global trade still flowing nicely, but international investment is sticky

Despite the rise of trade conflicts and xenophobic populism around the planet, globalisation is not in retreat, according to Global Connectedness Index (GCI) published by DHL.
Findings from the integrator’s Resilience360 subsidiary paint a more worrying picture of international trade, however. 
The GCI, an annual barometer of international flows of goods, capital, information and people that DHL presented on December 4, shows a slight overall dip for 2018. 
But it was not trade that retreated,...

https://theloadstar.com/global-trade-flowing-nicely-but-international-investment-is-sticky/

Change in supply chains not necessarily driven by trade war, say business leaders

There’s an interesting article in the South China Morning Post, confirming what many observers had suggested at the start of the tariff trade war: that regionalisation of supply chains is under way. Multinationals already swayed by digitalisation, sustainability and “the need for factories to be close to growing consumer markets” were planning to rethink. The tariff row between the US and China only accelerated the pace of change. “We are really focused on having very …

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Transpacific spot rate slump continues amid global trade uncertainty

Today’s Shanghai Containerized Freight Index (SCFI) saw spot rates tumble again on the transpacific, as softening demand reflected the impact of US tariffs on Chinese imports.
Rates from Asia to US west coast ports, as recorded by the SCFI, slumped a further 9% this week to $1,229 per 40ft, as shippers rowed back on front-loading to beat new import tariffs on 15 December.
However, for the more robust lane to the US …

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Port of LA tariff study sends stern warnings on real impact of trade war

President Trump said last month: “China is getting killed. The tariffs are killing China.” But in fact, according to new research commissioned by the port of Los Angeles, tariffs actually threaten nearly 1.5m US jobs and more than $186bn of economic activity. While some cautioned that the topic was more nuanced than merely looking at port volume drops, the National Retail Federation said tariffs were just taxes on US consumers and companies. “It’s clear the real casualties …

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Trump won’t hit EU with threatened car tariffs, says EC president

The US will not be putting tariffs on EU automotive goods, according to European Commission president Jean-Claude Juncker. This follows the news that US consumers and businesses paid an additional $38bn on tariffed products between February 2018 and September 2019. The tariffs on China will cost US households up to $1,000 a year, according to JP Morgan, while Moody’s estimated that the tariffs had reduced US employment by 300,000.
Mr Juncker told German newspaper Suddeutsche Zeitung that there …

https://theloadstar.com/trump-wont-hit-eu-with-threatened-car-tariffs-says-ec-president/

Stressed carriers hold their breath during Golden Week as contract talks loom

China’s Golden Week traditionally marks the start of the slack season on the major tradelanes of Asia-Europe and the transpacific. 
Before this week’s Chinese national holiday, container spot rates, as recorded by the Shanghai Containerized Freight Index (SCFI), had slumped to nigh year-to-date lows on both routes and there seems no reason to suggest there will be a recovery by the time the SCFI resumes publication on 10 October. 
Analyst Alphaliner said: “Further rate weakness is expected to...

https://theloadstar.com/stressed-carriers-hold-their-breath-during-golden-week-as-contract-talks-loom/

Vietnam anxious to attract US exports before catching Trump’s tariff eye

With a ballooning US trade deficit and fearful of potential Trump tariffs, Vietnam is scrambling to import more products that are ‘made in America’. 
President Trump this year described Vietnam as “almost the single worst abuser of everybody” in regard to trade, and imposed huge tariffs on some of the country’s steel products. 
Boosted in part by the US-China trade war, Vietnam’s exports to the US jumped 33% year on year, to $36bn, in …

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EU mulls tariffs on US exports to hit back at Trump threat

The trade war is escalating again. The EU is considering putting tariffs on more than $4bn of US exports, following President Trump’s threat to impose duty on $7bn of EU products, following the EU aid given to Airbus, reports CNBC. The WTO is set to authorise the US to impose tariffs on European goods because of allegedly illegal state aid for Airbus. The US tariffs will target planes, aircraft parts and luxury …

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Port chiefs spell out to Trump the danger to US economy from tariffs

Chiefs at seven large US ports have written to President Trump to express their “deep concern” over the “escalating trade conflict” with China. 
Claiming tariffs are creating “irredeemable economic harm”, they note there was a 30% decline in exports to China from Californian ports last year, while exports of wheat – grown across 10 states – have nearly ceased. 
“The negative impact to these exporters will be long-lasting, because they cannot easily …

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