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

MIS moves engine across Oman thumbnail image

MIS moves engine across Oman

September 13 - Muscat International Shipping & Logistics (MIS) has transported a 140-ton (127-tonne) Wärtsilä engine from a power station in Khasab to Duqm, Oman.
Views: 431
XLP gathers in Dubai thumbnail image

XLP gathers in Dubai

September 13 - Almost 160 delegates from around the world gathered in Dubai last week for the XLProjects (XLP) annual general meeting (AGM).
Views: 315
ACS adds office space in Spain thumbnail image

ACS adds office space in Spain

September 13 - Air Charter Service (ACS) has relocated its Spanish operation to larger premises in Madrid.
Views: 313
JAS takes to the skies thumbnail image

JAS takes to the skies

September 13 - JAS Worldwide has introduced an aerospace team for Europe, the Middle East and Africa (EMEA).
Views: 320

Heavy Lift Across The World

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