US Ports Warn White House of 'Grave' Economic Risks with China Crane Tariff
US seaports fear a 25% tariff on Chinese gantry cranes will hinder imports and exports, raising costs for all. The industry predicts over $130 million in extra expenses, urging the Biden administration to rethink the decision.
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US seaports are concerned about the potential impacts of a proposed 25% tariff on Chinese-made gantry cranes. They argue that such a tariff would not only restrict imports but also harm exports, increasing costs for the government, companies, and consumers. The industry estimates that this tariff could result in over $130 million in additional costs and put them at a disadvantage compared to competitors in Canada and Mexico. The seaports are urging the Biden administration to reconsider this tariff to avoid negative consequences on the economy.
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