Dubai Telegraph - Trump's tariffs bite at quiet US ports

EUR -
AED 4.332007
AFN 77.260018
ALL 96.740116
AMD 445.613214
ANG 2.11154
AOA 1081.673829
ARS 1701.248259
AUD 1.695822
AWG 2.123242
AZN 1.999365
BAM 1.957624
BBD 2.377605
BDT 144.374489
BGN 1.980949
BHD 0.444696
BIF 3498.154845
BMD 1.179579
BND 1.503456
BOB 8.156564
BRL 6.218269
BSD 1.180495
BTN 106.683927
BWP 15.628558
BYN 3.38145
BYR 23119.744766
BZD 2.374101
CAD 1.615144
CDF 2630.461064
CHF 0.916291
CLF 0.025871
CLP 1021.51513
CNY 8.183977
CNH 8.184874
COP 4362.082456
CRC 585.245174
CUC 1.179579
CUP 31.258839
CVE 110.367343
CZK 24.262784
DJF 210.214931
DKK 7.467459
DOP 74.499399
DZD 153.337061
EGP 55.273944
ERN 17.693682
ETB 183.934641
FJD 2.607462
FKP 0.863669
GBP 0.869249
GEL 3.178912
GGP 0.863669
GHS 12.961019
GIP 0.863669
GMD 86.109309
GNF 10360.607314
GTQ 9.054396
GYD 246.969013
HKD 9.21438
HNL 31.182047
HRK 7.533146
HTG 154.859662
HUF 380.35578
IDR 19910.641622
ILS 3.692317
IMP 0.863669
INR 106.677686
IQD 1546.440558
IRR 49689.757751
ISK 144.804767
JEP 0.863669
JMD 184.63199
JOD 0.836359
JPY 185.062986
KES 152.285155
KGS 103.153793
KHR 4764.296727
KMF 494.243633
KPW 1061.656325
KRW 1734.022177
KWD 0.362531
KYD 0.983716
KZT 582.212349
LAK 25372.635405
LBP 105735.122268
LKR 365.310298
LRD 219.5636
LSL 19.070965
LTL 3.48299
LVL 0.713515
LYD 7.477934
MAD 10.834847
MDL 20.061688
MGA 5222.865263
MKD 61.634416
MMK 2476.859793
MNT 4210.101928
MOP 9.499349
MRU 47.088865
MUR 54.331038
MVR 18.22445
MWK 2046.906758
MXN 20.555636
MYR 4.662282
MZN 75.198495
NAD 19.070965
NGN 1611.93005
NIO 43.439176
NOK 11.537171
NPR 170.695008
NZD 1.973718
OMR 0.453556
PAB 1.180495
PEN 3.96808
PGK 5.13178
PHP 69.069021
PKR 330.529398
PLN 4.224019
PYG 7795.228457
QAR 4.30239
RON 5.093771
RSD 117.37398
RUB 90.531925
RWF 1722.90494
SAR 4.423702
SBD 9.505221
SCR 17.531422
SDG 709.514706
SEK 10.659547
SGD 1.502205
SHP 0.88499
SLE 28.840809
SLL 24735.177088
SOS 673.427319
SRD 44.670911
STD 24414.899902
STN 24.522844
SVC 10.328621
SYP 13045.640245
SZL 19.061757
THB 37.374924
TJS 11.049046
TMT 4.134424
TND 3.420572
TOP 2.840142
TRY 51.444503
TTD 7.993446
TWD 37.333623
TZS 3037.415311
UAH 50.939352
UGX 4213.907525
USD 1.179579
UYU 45.55224
UZS 14479.488097
VES 445.863246
VND 30621.866027
VUV 141.181043
WST 3.215938
XAF 656.568614
XAG 0.01578
XAU 0.000242
XCD 3.187871
XCG 2.127482
XDR 0.816561
XOF 656.565829
XPF 119.331742
YER 281.212467
ZAR 19.112103
ZMK 10617.621216
ZMW 21.927333
ZWL 379.823897
  • RIO

    -5.3600

    91.12

    -5.88%

  • SCS

    0.0200

    16.14

    +0.12%

  • BTI

    0.3300

    61.96

    +0.53%

  • BCC

    -1.0700

    89.16

    -1.2%

  • RBGPF

    0.1000

    82.5

    +0.12%

  • NGG

    -0.9000

    86.89

    -1.04%

  • CMSD

    0.0200

    23.89

    +0.08%

  • JRI

    -0.1500

    13

    -1.15%

  • CMSC

    0.0300

    23.55

    +0.13%

  • GSK

    1.9400

    59.17

    +3.28%

  • BCE

    -0.7700

    25.57

    -3.01%

  • RYCEF

    -0.2000

    16.42

    -1.22%

  • BP

    -1.0300

    38.17

    -2.7%

  • VOD

    -1.0900

    14.62

    -7.46%

  • RELX

    0.3100

    30.09

    +1.03%

  • AZN

    -0.2900

    187.16

    -0.15%

Trump's tariffs bite at quiet US ports
Trump's tariffs bite at quiet US ports / Photo: Robyn Beck - AFP

Trump's tariffs bite at quiet US ports

At the Port of Los Angeles, the frenetic choreography of cranes unloading containers from Asia has slowed to a tiptoe, and the noise of the busiest docks in the US is quieting.

Text size:

"You could hear a pin drop, it's very unusual," Port Director Gene Seroka told AFP.

By this unofficial barometer, the American economy faces slowdown under US President Donald Trump amid his trade war with China.

Along with the next-door Port of Long Beach, the area represents the biggest gateway in the United States for goods from China and the rest of Asia.

That has made it among the first victims to a burgeoning crisis threatening to disrupt the lives of millions of Americans.

Trump's on-again-off-again tariffs -- and the retaliation launched by other countries -- has cowed importers, whose usual orders for furniture, toys, and clothing have dwindled.

For the week of May 4, the Port of Los Angeles will receive up to 35 percent less cargo compared with the same period last year, Seroka said.

The Port of Long Beach says for the entire month of May it is expecting a 30 percent drop in imports.

Dozens of ships have cancelled their voyages to these ports.

"Many retailers and manufacturers alike have hit the pause button, stopping all shipments from China," said Seroka.

The Asian manufacturing giant is the hardest hit by Trump's tariffs, with levies as high as 145 percent on some goods. Sales of Chinese goods to the US last year totaled more than $500 billion, according to Beijing.

And while sales may not be going up this year, prices undoubtedly will.

"Effectively, the cost of a product made in China now is two and a half times more expensive than it was just last month," said Seroka.

- Empty shelves -

Trump last month announced a range of differing tariffs against nearly all countries in the world -- including an island populated mostly by penguins -- using a formula that baffled economists.

He reversed course a few days later and left a blanket 10 percent rate against most of the planet.

That extra cost, which is paid by the importer of a product, not by the seller, will affect trade across the United States.

"This is not just a West Coast issue," warned Long Beach Port Director Mario Cordero.

"It affects every port, whether it's in the East or in the Gulf" of Mexico, which Trump has decreed should be known as the Gulf of America.

At the start of the year, Long Beach and Los Angeles saw American companies scurry to get ahead of tariffs that Trump promised on the campaign trail.

Cargo volumes surged as they tried to build up as much untaxed inventory as possible.

But as the tariffs begin to bite, they will undoubtedly hold buying to eat into that inventory.

Without a reversal from the White House that would re-open the trade spigot, that could mean shortages that consumers will start to notice, and soon, according to Seroka.

"American importers, especially in the retail sector, are telling me that they have about five to seven weeks of normal inventory on hand today," he said.

"If this trade dispute goes on for any length of time, we'll likely see fewer selections on store shelves and online buying platforms.

"The impact on American consumers will be less choice and higher prices," he said.

"The American consumer is going to get hit right in the wallet."

- 'We're angry at Donald Trump' -

For Antonio Montalbo, one of the 900,000 logistics workers in Southern California, the ordeal has already begun.

As the owner of a small trucking company, he needs to replace the starter on one of his vehicles; the part, made in China, now costs twice as much.

Trump has "created a hostile environment at the port for the drivers," says the 37-year-old.

"We're angry at Donald Trump. He needs to go check out the country a little bit, because he has a lot of angry truck drivers.

"It seems like he doesn't care about the public or the working class."

Between skyrocketing maintenance costs and the fall-off in work, he estimates he could be laying off staff within six months.

Montalbo says he voted for Trump last November because he was fed up with inflation, and trusted him to fix the economy.

"I thought that he was a businessman.

"Now we have something worse than inflation, called tariffs."

G.Rehman--DT