THE shelving of the threatened 15 per cent tariffs on US$160 billion of Chinese imports and the halving to 7.5 per cent of the existing duty on $112 billion of other goods by the Trump Administration will fail to boost transpacific volumes this year and next, according to Alphaliner.
Moreover, the price paid by American industry caught in the crossfire of the US-China trade war is substantial, according to a US business news commentator, reported UK's The Loadstar.
Alphaliner said that details of the Phase One trade deal struck by the US and Chinese negotiators on December 13 - just two days before the new tariffs covering an extensive range of everyday consumer goods were due to be implemented - were 'still sketchy'.
In return for the suspension of the new tariffs and the reduction in another tranche of duty, China has cancelled retaliatory tariffs on US imports and is likely to increase its purchases of US products and services by some $200 million.
However, the consultant noted that the original 25 per cent tariff on some $250 billion of Chinese imports remained in place.
According to its analysis of PIERS data of US containerised imports, Alphaliner said that for the 11-month period, US container imports from China had dropped by 8.2 per cent to 9.2 million TEU, compared with 2018.
However, US imports from other Asian regions surged by 15.4 per cent as the tariffs helped drive a shift in manufacturer hubs away from China.
A big winner was Vietnam, which recorded a massive 33.9 per cent uplift in containers to the US at 1.39 million TEU.
Also benefiting to a lesser degree was Thailand, up 18.3 per cent to 570,000 TEU and Malaysia up 27.3 per cent to 335,000 TEU.
Total trade from Asia to the US is expected to decline by 2.4 per cent this year to 15.7 million TEU, based on Alphaliner estimates.
'The new US-China trade deal will not be sufficient to reverse this shift and China is not expected to regain its former share of transpacific volumes in the near term,' said Alphaliner, 'while considerable uncertainty remains on prospects for overall growth of transpacific volumes in 2020'.
CNBC business news senior editor of guests Lori Ann LaRocco was quoted as saying: 'Retail and technology have announced losses in the billions. According to the National Retail Federation, consumers and businesses have paid an additional $38 billion from the start of the trade war in February 2018 through September 2019.'
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Moreover, the price paid by American industry caught in the crossfire of the US-China trade war is substantial, according to a US business news commentator, reported UK's The Loadstar.
Alphaliner said that details of the Phase One trade deal struck by the US and Chinese negotiators on December 13 - just two days before the new tariffs covering an extensive range of everyday consumer goods were due to be implemented - were 'still sketchy'.
In return for the suspension of the new tariffs and the reduction in another tranche of duty, China has cancelled retaliatory tariffs on US imports and is likely to increase its purchases of US products and services by some $200 million.
However, the consultant noted that the original 25 per cent tariff on some $250 billion of Chinese imports remained in place.
According to its analysis of PIERS data of US containerised imports, Alphaliner said that for the 11-month period, US container imports from China had dropped by 8.2 per cent to 9.2 million TEU, compared with 2018.
However, US imports from other Asian regions surged by 15.4 per cent as the tariffs helped drive a shift in manufacturer hubs away from China.
A big winner was Vietnam, which recorded a massive 33.9 per cent uplift in containers to the US at 1.39 million TEU.
Also benefiting to a lesser degree was Thailand, up 18.3 per cent to 570,000 TEU and Malaysia up 27.3 per cent to 335,000 TEU.
Total trade from Asia to the US is expected to decline by 2.4 per cent this year to 15.7 million TEU, based on Alphaliner estimates.
'The new US-China trade deal will not be sufficient to reverse this shift and China is not expected to regain its former share of transpacific volumes in the near term,' said Alphaliner, 'while considerable uncertainty remains on prospects for overall growth of transpacific volumes in 2020'.
CNBC business news senior editor of guests Lori Ann LaRocco was quoted as saying: 'Retail and technology have announced losses in the billions. According to the National Retail Federation, consumers and businesses have paid an additional $38 billion from the start of the trade war in February 2018 through September 2019.'
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