After President Donald Trump’s 145% announcement of China’s tariffs last month, we can see a major change this week.
Many of the items that may affect your wallet come to the US from the ports of Los Angeles and Long Beach.
At LA ports, items from China account for 45% of the business.
Leaders at the Port of LA expect the volume to shrink by 35% this week, and expect a quarter of the normal number of vessels arriving at the port will be cancelled entirely this month.
As tariffs begin to be affected at Ports of LA, trucking jobs are also affected.
“The fact that no more ships are carrying luggage, and those ships are not removing the load. That means there’s no work we need to do and that definitely affects us financially.”
“It definitely brings uncertainty to anyone because we don’t know what will happen,” Andredo said. “Anyway, a lot of people are beginning to lose their jobs.”
Small businesses say they are trying to navigate as US companies are already beginning to cut orders from other countries.
Johnny’s home appliances are a family-run store in Downey for over 50 years, and said major appliances such as LG and Samsung come from overseas.
“At the moment, that hasn’t affected us very badly, but in part, and unfortunately, many of the parts we receive come from overseas. Prices are rising.
In an interview with NBC News’ “Meet the Press” moderator Kristen Welker at his Mar-a-Lago home in Palm Beach, Florida, President Trump was asked about small businesses who are concerned about the pain caused by tariffs on Chinese products.
“Many businesses are being helped,” Trump said, and that there is no need for the bailout that some small businesses are looking for.
“They wouldn’t need that. They’d make that much money,” he said.
Source link
