West Coast Ports Warn of Long-Term Impacts from UNITED STATE-China Trade War
West Coast ports are getting in touch with President Donald Trump to clear up the united state-China Trade War, advising that failing to do so will certainly create irredeemable financial damage to companies, employees as well as united state homeowners.
The worries were elevated to President Trump in a letter from 6 of the busiest ports on the West Coast, consisting of the ports of Los Angeles, Long Beach, Oakland, Portland, Tacoma as well as Seattle, in addition to the The Northwest Seaport Alliance.
“As the largest ports on the U.S. West Coast, we are writing to share our concerns that the long-term impacts of the escalating trade conflict between China and the United States will create irredeemable economic harm to employers, workers, residents and international partnerships along the entire coast and throughout the country,” the ports mentioned in the letter.
The letter comes as West Coast ports remain to effects from the on-going profession battle as well as dangers of extra tolls from both sides. Exports were highlighted as being especially hard-hit.
“The impacts of the back-and-forth tariffs between the United States and China have hit our exporters particularly hard, and we are hearing deep concern from our customers about their increasing challenges due to rising U.S. tariffs and Chinese retaliation,” the letter states.
“California is the largest exporter to China of any state in the nation; in 2018, California ports collectively saw a decrease of about 30 percent in exports to China. The impact is even more stark when viewed by specific commodities. Exports to China of wheat – grown across 10 states from the Pacific Northwest to the Midwest and exported via Washington and Oregon ports on the Columbia River – have nearly ceased this year. In California, export declines to China are seen in soybeans (-96.9 percent), grains (-85.5 percent), glass (-86.5 percent) and rubber (-74.9 percent),” the letter includes.
Over the previous a number of years, the ports have actually been forthright on a variety of tariff-related problems.
“Our core message in each of these communications has been the same: we support a balanced trading relationship with our global partners but are deeply concerned that the continued imposition of ever-increasing tariffs leads to higher costs on U.S. businesses and consumers and loss of valuable markets without any long-term strategic benefit,” the letter cautions.
“There are justifiable concerns about how China’s current trade practices are interfering with the success of U.S. exporters, and we appreciate that you are working toward long-term structural reforms in the U.S.-China trade relationship,” the letter includes. “However, our farmers, ranchers, fishing industry, manufacturers and retailers are already deeply harmed by the tariffs and retaliation to-date, and spreading and increasing the impact will make that problem worse. Instead, we urge you to pursue fair, mutually beneficial trade agreements that open new market access opportunities, create a level playing field for America businesses, and protect our workers and the environment.”