LA Port warns of potential impacts of proposed new tariffs on China
LOS ANGELES, June 19 (Xinhua) -- Port of Los Angeles, the largest single gateway for waterborne containerized cargo entering and leaving the United States, warned the proposed new tariffs on goods from China would create unintended negative impacts to the nation.
In a comments letter issued to the United States Trade Representative (USTR) on Monday, the port listed higher consumer prices, lower profitability for American firms, uncertainty in the maritime supply chain, and the potential shifting of trade routes to the detriment of the Port and the Los Angeles trade gateway as the most worrisome impacts of the tariffs against China.
Comprising Port of Los Angeles and its neighboring Port of Long Beach, the San Pedro Bay Port Complex, handles approximately 40 percent of all containerized imports and 30 percent of all containerized exports for the United States, the letter said.
This cargo generates over 310 billion U.S. dollars annually, supports roughly 3 million jobs across the country, and reaches every one of 435 Congressional districts, the letter adder.
The San Pedro Bay Ports account for nearly half of all seaborne trade between the United States and China, noted the letter.
Based on these facts, the port predicated that both the imports and exports between the United States and China would plunge sharply if the proposed tariffs against China were imposed.