Trade Dispute with China Threatens US Container Exports

A day after President Trump ordered tariffs on $50 billion of Chinese imports, China clapped back by imposing $3 billion per year of tariffs on U.S. pork, aluminum, steel pipes, fruit, and wine. The commodities that China threatened retaliatory tariffs on made up 3.1% of the 2.8 million TEUs in total U.S. containerized exports to China in 2017. Though they have been the most discussed, goods like aluminum and steel are not the only products to potentially be hit hard by these tariffs. The agricultural sector, especially soybean farmers, could potentially be in financial danger. This has U.S. ports feeling a bit uneasy as it could spark a trade war adding further impacts to container imports.