For the past few months, the U.S. and China have been in a battle of tariffs- a trade war. Set to begin on January 1st, President Trump has imposed tariffs on nearly $34 billion in Chinese goods.
With the new tariffs imposed by President Trump, nearly 1.8 million TEU’s, or 1% of the world’s trade, could be affected, according to Drewry’s analysis of US Transpacific Imports.
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West Coast ports in particular could be affected by these tariffs the most. Nearly 15% of cargo coming into these ports are directly from China. Although the U.S. and China have reached a 90 day truce regarding the matter, the future of trade between the two is uncertain. This poses the question, what happens next?
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To find out more about the Trade War, please click here.