American Association of Port Authorities: Taxing Chinese cranes could cost the US nearly $6.7 billion.

The crane tariff will cost American ports $6.7 billion in losses. Bloomberg reported on the 19th that the American Association of Port Authorities representing 81 ports in the United States stated that imposing import tariffs on cranes manufactured in China could result in nearly $6.7 billion in losses for the United States and hinder investment upgrades in infrastructure. Gary Davis, CEO of the association, opposed the proposal of the Office of the U.S. Trade Representative to impose a 100% tariff on cranes manufactured in China at a hearing held in Washington on Monday. He urged the Office of the U.S. Trade Representative to exempt the crane tariffs on orders that have already been placed because this tariff would amount to as much as $1.8 billion.