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Business volume of Oswego Port in US decreases due to US' tariffs

20 May 2019 16:53 reported by Lisa Li

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It was difficult to achieve harmony between China and the United States over tariffs. This has seriously affected China-US trade, resulting in a slow economic growth situation.

Nowadays, in addition to the tense relations between China and the United States, the United States has taken the same approach to Canada, which was to impose tariffs on aluminum exported from Canada to the United States.

The move, which significantly reduced Canada's exports and deeply affected the Port of Oswego, which was dominated by aluminum trading, has led to a significant decline in profits at the port. Even it was the peak season, there were still no bookings of aluminum boats, and the situation will not get better in the short term.

At present, the port is coordinating efforts to approve a free trade zone to lower tariffs on goods like aluminum. The Canadian government, in response to tariff increases in the United States, is also actively mobilizing funds to support small and medium-sized steel and aluminum producers in all parts of Canada.