U.S.-China trade war

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

Three Ships Carrying Ethanol Heading to China

  • Three ships carrying ethanol were heading to China from the U.S. Gulf Coast, three trade sources told Reuters on Monday.
  • In a sign that exports of the fuel were sharply increasing from the United States to the country.

The shipments may surpass the total amount of U.S. ethanol that China imported last year, a positive development for the U.S. ethanol industry, which has seen decreased demand because of the coronavirus pandemic and the U.S.-China trade war, reports Reuters.

Capacity of Ships

The...

https://mfame.guru/three-ships-carrying-ethanol-heading-to-china/

Q&A: COVID, the rise of China, and the future of ocean shipping

container terminal

It’s getting really weird out there in the ocean shipping markets. Global oil demand collapses yet oil tanker rates spike. Tanker profits soar yet stock investors flee. Unemployment surges and businesses fold yet imports flood into ports and container rates skyrocket.

The COVID-19 pandemic has made the ever-confounding task of forecasting shipping markets more confounding still.

For insight on what’s next, FreightWaves interviewed Peter Sand, chief shipping analyst at BIMCO. Sand, based in...

https://s29755.pcdn.co/news/qa-covid-the-rise-of-china-and-the-future-of-ocean-shipping

Commentary: Keeping Alaska’s seafood supply chain intact

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. 

Why is gasoline more expensive in oil-rich Alaska than in most of the Lower 48? Because Alaska ships its crude oil out-of-state without refining it. Other states have large refineries possessing economies of scale that Alaska cannot match. A similar tale applies to Alaska seafood. Why does frozen Alaska salmon, destined for retail markets in the Lower 48,...

https://s29755.pcdn.co/news/commentary-keeping-alaskas-seafood-supply-chain-intact

Trade War Between World’s Largest Economies Escalates

  • The economic war between the US and China morphs into a rapidly escalating political dispute, threatening their phase-one trade deal reached in January.
  • The close ties the two countries have built up since the 1970s are unravelling.
  • This is creating opportunities for some commercial interests on both sides, but also risks for others.
  • Rising costs in China, increased automation and anger at Beijing’s appropriation of intellectual property in exchange for access to its markets made companies to...

https://mfame.guru/trade-war-between-worlds-largest-economies-escalates/

Commentary: COVID-19 severely impacts the ‘Blue Economy’

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. 

Since the beginnings of COVID-19, the political rhetoric masking the severity and economic impact of the virus has piled up to levels we have not seen since the U.S.-China trade war. Just as the flow of trade refuted the trade war promises and winning declarations, the same can be applied to the impact and ruthlessness of C-19.

A cargo ship being unloaded at...

https://s29755.pcdn.co/news/commentary-covid-19-severely-impacts-the-blue-economy

Commentary: Can managed trade really work?

The views expressed here are solely those of the author and do not necessarily represent the views of FreightWaves or its affiliates. 

Managed trade, ironically, is hard to manage. This is especially true when it is between the world’s two largest economies trying to settle their trade and political disputes. The U.S.-China trade war entered a détente of sorts with the “Phase 1” trade deal signed on January 15, 2020. Between January 1, 2020 and December 31, 2021, China is required to import more...

https://www.freightwaves.com/news/commentary-can-managed-trade-really-work

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

Manufacturers adapt in uncertain times

The ongoing trade war between the U.S. and China has sparked a manufacturers migration from China to the U.S. and Southeast Asia. Many American-based companies are considering manufacturing domestically as a solution to the turbulent economic times.

One such company is CIE Manufacturing (formerly CIMC Intermodal Equipment), which is in the final stages of adding manufacturing capabilities to its North American facilities. The move will help insulate CIE from trade disruptions and allow the...

https://www.freightwaves.com/news/manufacturers-adapt-in-uncertain-times

+ More