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LA Port Warns Of Potential Impacts Of Proposed New Tariffs On China

Logistic News - Published on Mon, 24 Jun 2019

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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, 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 of the Port and the Los Angeles trade gateway as the most worrisome impacts of the tariffs against China.

The letter said that comprising Port of Los Angeles and its neighboring Port of Long Beach, the San Pedro Bay Port Complex, handles approximately 40 percent of all containerized imports and 30 percent of all containerized exports for the United States. This cargo generates over USD 310 billion annually, supports roughly 3 million jobs across the country, and reaches every one of 435 Congressional districts. The San Pedro Bay Ports account for nearly half of all seaborne trade between the United States and China,.

Based on these facts, the port predicated that both the imports and exports between the United States and China would plunge sharply if the proposed tariffs against China were imposed.

The letter read “On the import side, our most recent analysis estimates the current and proposed tariffs directed at China will impact roughly 66 percent of all imports by value and 64 percent by both tonnage and container volume at the San Pedro Bay. That’s USD 130 billion worth of US imports from China exposed to higher costs.”

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Posted By : Mohan Sharma on Mon, 24 Jun 2019
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