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Heavy Lift Across the World

Tariffs taking their toll

Last week, US President Donald Trump said that an additional 10 percent tariff will be imposed on Chinese-origin goods effective September 1, 2019.

USD300 billion of tariffs will be applied to so-called ‘List 4’ items that have, to date, escaped additional duties. These comprise approximately 3,800 items and include textiles, apparel and footwear.

The proposed hike comes as trade talks between the USA and China stalled. Industry analysts expect China to retaliate in kind.

The Chinese Yuan, meanwhile, has slipped to its lowest level since 2008 and is currently trading at USD1:RMB7.08. The slump prompted the US Treasury to label China a currency manipulator. The actions of China’s central bank have been described as a way of boosting Chinese exports while offsetting the negative effects of the ongoing trade tensions; China’s GDP growth of 6.2 percent for the quarter ended June 2019 was the lowest reported for 27 years.

Germany, meanwhile, posted weak industrial output figures for June 2019. The country’s Statistics Office said industrial output fell by 1.5 percent month on month with the US-China trade dispute cited as a key reason for the decline. Both markets are key export destinations for German-made goods.

The September/October 2019 edition of the magazine will include a dedicated report on the USA's project logistics market and, according to those already interviewed by HLPFI, there is near-universal agreement that the complex geopolitical environment is negatively affecting the country's project logistics supply chain. If you would like to contribute in an editorial capacity, please get in touch with David Kershaw.

Heavy Lift | News

Cosdel ships to Riyadh Auction and Salon thumbnail image

Cosdel ships to Riyadh Auction and Salon

December 10 - Cosdel International Transportation, a Rock-it Cargo company, transported 447 vehicles from the USA and Canada to Saudi Arabia. The vehicles were up for sale at the Riyadh Auction and Salon during late November.
Views: 214
LNG projects move forward at Brownsville thumbnail image

LNG projects move forward at Brownsville

December 9 - The Federal Energy Regulatory Commission (FERC) has approved proposals for new LNG projects, totalling USD38.75 billion, at the port of Brownsville, USA.
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White to depart Baltimore thumbnail image

White to depart Baltimore

December 5 - James White will resign as executive director at the Maryland Department of Transportation Maryland Port Administration (MDOT MPA), effective December 31.
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Heavy Lift Across The World

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