Trade war battles come to New York
Sep 18, 2018 3:30 pm
Brian Nearing reports in the Albany Times Union that Donald Trump's trade war with China has come to Albany. According to the paper, about half of the Albany port's $97 million in machinery imports last year would have been impacted by the Chinese tariffs. And this year, about $8 million out of $46.7 in machinery imports would have cost more due to tariffs. Bill Ring, general manager of Federal Marine Terminals, which runs the Albany port said that a shipment of subway cars sent to Boston would have been affected. "The orders for these cars are three years out and it will not halt the business, but the tariffs will have an impact," said Ring. Earlier this summer Trump added tariffs on $50 billion worth of Chinese-made goods, and now he is adding another $200 billion of imports from that country in his trade war. Buyers bear the cost of the tariffs, so there may be less buying, and less business going through the port during the trade war. Tariffs on Canadian goods could also be a problem in upstate New York. "Anything that is disruptive of our economic integration is of great concern," said Garry Douglas, executive director of the North Country Chamber of Commerce. He says the U.S. and Canada have had a great relationship. "People ought to even stop calling it trade. We are post-trade, and now are in integrated production," he said. "In Clinton County alone, about 15 percent of our work force is linked to Canadian investment." Read the full story in the Albany Times Union.