PortandTerminal.com, August 24, 2019
WASHINGTON, OR – China is imposing new tariffs on $75 billion worth of U.S. goods. Among the many Washington State products that could be impacted — soybeans and aircraft as well as seafood, apples, wheat and hay. The tariffs could also seriously impact our ports in Puget Sound.
Washington state does a lot of business with China.
“Trucks and planes we build and export to around the world. A lot are headed to Asia, and to China in particular,” said Ryan Calkins, a Port of Seattle Commissioner.
Many goods and products pass through the Ports of Seattle and Tacoma — which make up the Northwest Seaport Alliance.
“Right now, the thing for us is, about 60% of the total trade for Seaport Alliance is with China,” said Calkins.
Talk of more tariffs makes trade and economic experts uneasy.
“So anytime anything like this comes up, it is a real red flag for us,” said Calkins.
Starting Sept. 1, China plans on imposing tariffs on 1,000 different goods shipped from the U.S.
China tariffs will be anywhere from 5% up to 25%.
“It won’t be huge to start. But the tariff war continues; it is not going to go away and it will probably have greater tariffs attached to it by the end of the year,” said Professor David Bachman with Henry M. Jackson School of International Studies at the University of Washington.
China tariffs include a 25% tariff on U.S. cars and a 5% tariff on auto parts.
The levies are the latest move in the trade war that has lasted more in the year and a half.
More tariffs won’t just impact our local ports. Experts say it may also impact jobs.
“That will mean lost jobs in some areas,” said Bachman. “It’ll affect jobs. There will be some loss of sales to China. That will mean that companies and farms will not have the ability to earn revenue which will mean layoffs.”
“This hits American consumers directly,” said U.S. Rep. Suzan DelBene (D WA- 1st District).
DelBene explained what the ongoing trade war means for Americans.
“It can hurt the economy. It could hurt businesses and their ability to provide goods. It could make costs of goods go up. And, it’s going to increase costs for consumers,” said DelBene.
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