Latest news from Heavy Lift & Project Forwarding International Magazine

Tariff hikes cause concern

The escalating bilateral trade war between the USA and China is reverberating across international markets.

Last week, US President Donald Trump increased the tariffs on approximately USD200 billion of goods imported from China to 25 percent. China has said it will retaliate in kind and will raise tariffs on USD60 billion of US goods effective June 1.

The American Association of Port Authorities (AAPA) said that tariffs harm all Americans as the increased cost of goods imported and exported are felt throughout the nation.

“Whether it is a US small business or a US manufacturer who uses Chinese goods, or a US farmer who wants to export their products to China and are impacted by retaliatory actions, tariffs hurt our economy and every American,” said Susan Monteverde, AAPA’s vice president of government relations.

The association has asked the US administration to rescind the decision to increase the tariffs and recommends that the process to impose 25 percent tariffs on the remaining USD325 billion on Chinese imports be postponed.

The escalation of bilateral trade tensions has negatively affected stock markets. Asian markets fell on Tuesday after Wall Street closed with sharp losses.

China's trade surplus with the USA is the result of unfair practices, such as widespread state support for domestic companies, argues the USA. It also accuses China of stealing intellectual property from US firms.

www.aapa-ports.org

Heavy Lift | News

Höegh rolls to Mombasa thumbnail image

Höegh rolls to Mombasa

August 23 - Höegh Autoliners has shipped 100 breakbulk units destined for a cement plant in Kenya on using two of its ro-ro services.
Views: 360
Peel Ports prepares for Brexit thumbnail image

Peel Ports prepares for Brexit

August 23 - The UK’s Peel Ports Group has been accredited as an authorised economic operator (AEO) at all of its principal ports.
Views: 272
Esbjerg welcomes LHM 800 thumbnail image

Esbjerg welcomes LHM 800

August 23 - Denmark’s Port Esbjerg has taken delivery of a 308-tonne lifting capacity LHM 800 mobile harbour crane from Liebherr.
Views: 316

Heavy Lift Across The World

Discover heavy lift and project logistics industry news from around the world by region.