- The repercussions of the trade war between the United States and China began. Los Angeles port expects a decrease in charging until a deal on customs tariffs is reached, but the Trump administration did not indicate whether the negotiations were taking place. The head of the market at Jpmorgan said.
The American -Chinese trade war started, so say goodbye to the goods. Los Angeles Port expects drop off In imports next week compared to last year, more than a third of the model traffic of the goods.
“It is a decrease in size, as a number of main American retailers stopped all shipments from China based on the definitions,” He said on CNBC Tuesday morning.
While President Donald Trump pressed a pause on the sweeping tariff system and put a 10 % blanket tax on other countries, imposing taxes on China more. A 145 % tariff on China, which took 120 % for American goods. No commercial deal has been made, and it is not clear whether there are negotiations. Treasury Secretary Scott Bessin Set the responsibility China should come to the table and ink a deal. However, less than half of the port’s work is emitted by China. So things can be dark until then.
“What we will see is that the retailers have about five to seven weeks of the remaining full stocks CNBC. This does not mean that the shelves will be empty, but assuming Siroca, this may mean that if you are shopping for a blue shirt, you may see 11 purple – but only one blue is not your size and more expensive.
“No one wins,” he said. “China is America’s factory.” He later said: “The pain feels on both sides of the Pacific.”
Pesent over and over again The name The tariff for China is not sustainable because the country sells much more to the United States than vice versa. It seems that it is believed that China wants to cancel the escalation due to the exemptions from the definitions it provided, but it still threatens an escalation ladder if this is not the case. However, the Trump administration, according to the recent LPL Financial NoteThe tone of softness depended on China. Less than a week ago, the president Float Definitions on Chinese goods will be dramatically reduced.
“We’ll see what this means, but the reconciliation tone was sufficient to add fuel to the market recovery,” according to LPL. To date, the three main indexes are relatively flat in early trading in the afternoon.
Earlier on Tuesday, the largest market strategy in JPMorgan asset management for the Americas, Gabriella Santos, too He said CNBC: “Time is running out to see the definitions of China.” She said that everyone knows that customs tariffs are not sustainable, but the markets need to see them already fall.
“We are not talking about high prices and companies that discover ways to pass this,” Santos said. “We are talking about the actual disturbance of the supply chain.”
This story was originally shown on Fortune.com
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