NOLA CEO: Trump’s Trade Tariffs Not Good for US Ports

The United States ports are likely to be negatively impacted by the latest trade tariffs being proposed by the Trump Administration.

On March 1, the U.S. President announced a plan to boost domestic manufacturing by imposing tariffs of 25 pct on imported steel and 10 pct on imported aluminum.

According to Brandy Christian, President and CEO of the Port of New Orleans (NOLA), imposing and enforcing tariffs arbitrarily on imported steel and aluminum would negatively impact ports, the larger maritime community, manufacturers throughout the U.S., and other steel-consuming industries.

“Port NOLA is particularly sensitive to tariffs on imported steel and non-ferrous metals such as aluminum because the commodities are important revenue sources and generate significant transportation jobs,” Christian said.

Port NOLA imported 2.48 million tons of steel in the fiscal year 2017, which represents 83 percent of its breakbulk tonnage and 30 percent of its total general cargo tonnage. Port NOLA also imported 665,154 tons of aluminum traded on the London Metals Exchange, the port figures show.

“Make no mistake, this is a tax on American families. When costs of raw materials like steel and aluminum are artificially driven up, all Americans ultimately foot the bill in the form of higher prices for everything from canned goods to automobiles. The reality is that there is nothing this country will gain from such a one-sided policy. These tariffs threaten to destroy more U.S. jobs than they will create while sending an alarming signal to our trading partners and diminishing markets for American-made products overseas,” U.S. National Retail Federation’s CEO and President Matthew Shay said.

The plan has been fiercely opposed by the European Union and Canada which threatened to retaliate with their own tariff schemes.

“The reaction of other countries and their desire to retaliate against U.S. exports is a concern for Port NOLA and ports along the Lower Mississippi River. Louisiana is a leader for exporting the nation’s agricultural products to overseas markets, with a nearly 60 percent market share of export grain from the U.S. Midwest,” Christian added.

As stressed, the new law could have a much greater impact than the steel tariffs imposed by former President Bush in 2002 when the port NOLA suffered a 46 percent decline in steel imports.

“Port NOLA believes free and open trade policies, combined with appropriate incentives for U.S. steel producers is the best means to promote all sectors of the U.S. economy. We will continue communicating to members of the Louisiana delegation that it is in the best interest of the Port and U.S. economy that the Administration limit actions related to this matter,” she concluded.

Share this article

Follow World Maritime News

In Depth>


<< Jun 2018 >>
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1


TRANSTEC 2018 welcomes participants to explore Russian Ports and Shipping development opportunities…

read more >

Europort 2018

From 15-17 May 2018, the 12th edition of Europort Romania willl take place in the IDU Hall in Constanta…

read more >

The 27th World Gas Conference

The 27th World Gas Conference is the leading global industry event and is the definitive gathering of influential leaders, buyers and sellers, policy-makers and experts from around the world.

You will hear critical business insights and lively debates on the most topical issues facing the global gas industry today and in the future.

From 25-29 June 2018, Washington DC is expected to host 12,000 attendees, 500 speakers and 350 exhibitors representing, more than 600 companies from 100 countries.

Presented by the IGU, this is the largest and most high-profile gas event that is conducted by the industry for the industry.

Read More

read more >

SMM 2018

This is a must-attend event – a unique opportunity to meet key players, display business strengths, establish new contacts and exchange…

read more >