FILE PHOTO: Shipping containers are pictured at Yusen Terminals (YTI) on Terminal Island at the Port of Los Angeles in Los Angeles, California, U.S., January 30, 2019. REUTERS/Mike Blake/File Photo By David Lawder and Andrea Shalal WASHINGTON, March 13 (Reuters) - The Trump administration is not considering broad relief from import tariffs on Chinese goods to ease … [Read more...]
Ports Act as Weather Vanes as Economic Clouds Darken
Photo courtesy Port of Long Beach By Brendan Murray (Bloomberg) -- Longshoremen hold a revered place in economic and political history — from the docks of London and South Africa to Southern California. They’re on the front line when waves of trouble arrive, whether from trade disputes, recessions in far-away places or natural disasters that disrupt global commerce. So … [Read more...]
Busiest U.S. Port Sees Coronavirus Drag Through Most of 2020
Photo: Port of Los Angeles By Richard Clough (Bloomberg) -- The shipping industry will remain volatile for most of 2020 as the coronavirus outbreak in China upends the global supply chain, said the head of the largest U.S. container port. Cargo traffic through the Port of Los Angeles is down about 25% in February amid a rash of canceled ship sailings, Executive Director … [Read more...]
Big Oil Warned Trump Team China Trade Deal Was Unrealistic
File Photo: The LNG carrier Hoegh Galleon at Cheniere'sCorpus Christi Liquefaction. (Photo: Business Wire) By Jennifer A. Dlouhy, Shawn Donnan and Nick Wadhams (Bloomberg) - Industry leaders privately warned the Trump administration that the U.S. will struggle to deliver the oil, gas and other energy products that China has committed to buy in a new trade deal, raising … [Read more...]
U.S. Trade Deficit Narrows for First Time in Six Years
FILE PHOTO: A container ship arrives at Yusen Terminals (YTI) on Terminal Island at the Port of Los Angeles in Los Angeles, California, U.S., January 30, 2019. REUTERS/Mike Blake/File Photo By Lucia Mutikani - WASHINGTON, Feb 5 (Reuters) - The U.S. trade deficit fell for the first time in six years in 2019 as the White House's trade war … [Read more...]