Amid trade wars, American industries cry out for certainty
By Newell Normand
WWL Radio
Our ports are the heart and bloodline of our economy in southeast Louisiana. Albeit the trade wars we find ourselves in have laudable goals, there are many downstream implications that will impact our ports and our local economies as a result. We all know China’s predatory trade practices have disastrous outcomes for certain sectors here at home, but China has always wondered if we would be willing to inflict pain on ourselves to fight back. In many respects, we are now in uncharted territory. Healthy trade begs for cooperation and certainty.
A recent report says there’s been a 25% drop in bulk cargo for the port of New Orleans and a 15% drop for the Port of South Louisiana. What effects could tariffs have on expansion plans for our ports, and the economic health of our state?