East beating west – a tale of two (US) coasts
And no change anytime soon
President Trump said last month: “China is getting killed. The tariffs are killing China.” But in fact, according to new research commissioned by the port of Los Angeles, tariffs actually threaten nearly 1.5m US jobs and more than $186bn of economic activity. While some cautioned that the topic was more nuanced than merely looking at port volume drops, the National Retail Federation said tariffs were just taxes on US consumers and companies. “It’s clear the real casualties are American businesses, farmers, workers and consumers. As the trade negotiations continue, it is imperative that both sides come to a final agreement that removes all tariffs,” The Daily Breeze reports.