There is no let up in the trade war between the United States and China.
That raises a good question. How much impact would higher tariffs have on the Port of Corpus Christi?
President and CEO of the Port of Corpus Christi Sean Strawbridge say these tariffs will have a dampening effect on the ports three major commodities with China and those are crude oil, liquified natural gas, and sorghum.
The Trump administration has raised tariffs from 10% to 25% on $200 billion in Chinese goods.
China responded, vowing to increase their own tariffs on $60 billion of American products, starting June 1st, 2019.
“However, a protracted trade war is not going to be good for anybody we are confident that this administration will reach an agreement with China it’s just some short term pains for some long term gains,” says Strawbridge.
Strawbridge also says ports around the country are usually against tariffs because they have a negative effect on business. He also adds how China has always been a difficult trading partner for the Port of Corpus Christi.
Hopefully, these tariffs by the Trump administration will make the trade with China better.