America’s ports are fearful that they will be big losers as the escalating trade fight between Washington and Beijing bites business. The anxiety is that tit-for-tat tariffs between the two economic superpowers will crimp shipments, denting port revenues. Kurt Nagle, head of the American Association of Port Authorities, called the state of play “concerning” following the latest back and forth this week between the US and China.” The total amount of tariffs and international retaliation affect 10% of the total trade in American ports,” or about $160 billion in revenues, Nagle said. / AFP PHOTO
WASHINGTON, United States (AFP) — President Donald Trump’s latest round of punitive tariffs on China took effect on Monday, adding $200 billion in Chinese imports to the escalating trade war that is clouding the global economic horizon.
The new attack on Beijing brings the amount of goods hit by duties to more than $250 billion, roughly half of Chinese exports to the United States.
Beijing said it would strike back with duties on $60 billion in American goods.
© Agence France-Presse
