US Ports Warn White House of ‘Grave’ Economic Risks With China Crane Tariff ( www.bloomberg.com )
US ports are urging the Biden administration to reconsider a proposed 25% tariff on Chinese-made cranes, arguing it will increase costs by over $130 million and hurt their competitiveness. They argue there are no alternatives to Chinese cranes and the tariff will negatively impact efficiency, capacity, and the overall economy. The ports dispute the administration's claims of security threats posed by the cranes.