The Trump Administration is no longer threatening to slap tariffs on Chinese-made gantry cranes. That's good news for the Port of Virginia.
NORFOLK, Va. (AP) — The Trump Administration is no longer threatening to slap tariffs on Chinese-made gantry cranes. That’s good news for the Port of Virginia.
Four massive gantry cranes that will help load and unload shipping containers are scheduled to be delivered to the port from China next year. Such a tariff could have added about $10 million in costs to the port’s $40 million expansion project and delayed its completion.
The Virginian-Pilot reported Wednesday that the cranes were removed this week from a list of Chinese goods that could face a 25 percent tariff.
Port CEO John Reinhart had shared his concerns last month with the Office of the United States Trade Representative. The office was holding public hearings for proposed tariffs on about $200 billion worth of Chinese products.
Information from: The Virginian-Pilot, http://pilotonline.com