21.2 C
Hamburg
Tuesday, June 2, 2020
Home Most Visited Port of Oakland hopeful, cautious over U.S.-China trade deal

Port of Oakland hopeful, cautious over U.S.-China trade deal

Port of Oakland officials mixed hope with caution following a possible U.S.-China trade war de-escalation. Word of a deal to ease the 18-month-long tariff skirmish prompted the following response from the Port:

“We’re hopeful that this is the beginning of the end to damaging trade restrictions,” said Port of Oakland Executive Director Danny Wan.  “It’s a good sign for our shipping customers, but let’s see how it plays out.  There’ll be more work ahead to get global trade flowing freely again.”

 

According to reports, the U.S. said it would roll back tariffs on some imports from China. In return, Beijing said it would make significant purchases of American farm goods.  New tariffs, set to be imposed by the U.S. Dec. 15, would be scrapped under the agreement.

Oakland, along with other West Coast port authorities, has called repeatedly for an end to the trade war. The Port warned that tariffs threatened import and export customers who depend on business with China.

The Port reported record cargo volume in 2018, despite tariffs imposed by both China and the U.S. Its total cargo volume through the first 11 months of 2019 is down 0.8 percent.

According to the Port, the deal could have special benefit for Oakland exporters. The Port is considered one of the principal gateways to Asia for U.S. agricultural goods. Since China is Oakland’s leading trade partner, a trade war ceasefire could mean increased business for American farm producers who use Oakland.

- Advertisment - LR Sustainability Decarbonisation Digital Adverts

Latest Posts

ZIM introduces new eCommerce service

ZIM has announced the launch of ZIM eCommerce Xpress (ZEX), a new service from South China to Los Angeles US West Coast, from 22...

CMA CGM implements fresh rates from North Europe and Med

CMA CGM will apply new freight of all kinds (FAK) rates from North Europe and the Mediterranean to North American destinations from 1 July...

DCSA establishes IoT container connectivity standards

Digital Container Shipping Association (DCSA) has published IoT (Internet of Things) connectivity interface standards for shipping containers. The non-profit group was established to further the...

Jeff Bezos supports UK freight forwarding start-up

London-based Beacon, a freight forwarding and supply chain finance company, has raised over US$15 million in its Series A fundraising round, with investors including...

Maritime renaissance facilitated by pandemic says DNV GL

Shipping is undergoing a “maritime renaissance” brought on by the Covid-19 pandemic according to vessel classification society DNV GL’s maritime director Knut Ørbeck-Nilssen. DNV GL...