JAXPORT biggest box port in Florida as monthly volumes increase 25pc

JAXPORT biggest box port in Florida as monthly volumes increase 25pc THE Port of Jacksonville's container volumes grew 25 per cent year on year in February to 100,346 TEU, said JAXPORT authorities. Last year, JAXPORT and private users of the harbour moved 1.3 million TEU, making Jacksonville the No 1 container port in Florida, reported the American Journal of Transportation. The port's Asian container volumes continue to grow, up 15 per cent over last February with 34,550 TEU moved during the month. During the past five years, JAXPORT has recorded an average of 21 per cent annual growth in Asian container volumes. The federal project to deepen the Jacksonville shipping channel to 47 feet to accommodate bigger ships started in February. JAXPORT's Puerto Rican volumes also increased, growing 35 per cent in February with 57,242 TEU moved, up from 42,351 during the same time last year. As the primary US port for commercial trade with Puerto Rico, JAXPORT and its partners continue to supply aid to the residents following Hurricane Maria's devastation in September.

US-China tariff war is unhealthy for HK 's economy and job security.

HONG KONG's economy is expected to suffer a blow if Beijing and Washington exchange tit-for-tat trade tariffs. Finance chief Paul Chan earlier expressed concern that, as a "highly open and small economy," Hong Kong could see one out of five jobs affected since those employed in the city's trade and logistics industries would be hit, not to mention the volatility a trade war would cause in the financial market, said SCMP. Trade minister Edward Yau has held several rounds of talks with major business groups, including the American Chamber of Commerce, as well as top US envoy to Hong Kong Kurt Tong, trying hard to head off or minimise any negative consequences. Although the general sentiment seems to be that the direct impact on Hong Kong will not be huge - at least not yet - it raises one issue: can Hong Kong, an independent member of the World Trade Organisation (WTO), be treated separately from mainland China in this latest round of highly politicised tariff retaliation? Not really, although that appears to be the government's hope. It further prompts another question: can Hong Kong convince the United States that the collateral damage to a city under "one country, two systems" will also hurt the interests of the many American businesses here? The city joined the WTO while still under British rule. Armed with this status after the 1997 handover, Hong Kong has helped Beijing lobby for support for fairer trade treatment, especially in convincing the US about the renewal of China's Most-Favoured-Nation status, later renamed Permanent Normal Trade Relations under US President Bill Clinton's administration. Hong Kong still needs to make both sides better realise its significance. And that is, the city can help show Washington the upside of smooth bilateral trade relations, while US businesses can always enjoy a free and friendly environment here, the report concluded.

US-China tariff war is unhealthy for Hong Kong's economy and job security

HONG KONG's economy is expected to suffer a blow if Beijing and Washington exchange tit-for-tat trade tariffs. Finance chief Paul Chan earlier expressed concern that, as a "highly open and small economy," Hong Kong could see one out of five jobs affected since those employed in the city's trade and logistics industries would be hit, not to mention the volatility a trade war would cause in the financial market, said SCMP. Trade minister Edward Yau has held several rounds of talks with major business groups, including the American Chamber of Commerce, as well as top US envoy to Hong Kong Kurt Tong, trying hard to head off or minimise any negative consequences. Although the general sentiment seems to be that the direct impact on Hong Kong will not be huge - at least not yet - it raises one issue: can Hong Kong, an independent member of the World Trade Organisation (WTO), be treated separately from mainland China in this latest round of highly politicised tariff retaliation? Not really, although that appears to be the government's hope. It further prompts another question: can Hong Kong convince the United States that the collateral damage to a city under "one country, two systems" will also hurt the interests of the many American businesses here? The city joined the WTO while still under British rule. Armed with this status after the 1997 handover, Hong Kong has helped Beijing lobby for support for fairer trade treatment, especially in convincing the US about the renewal of China's Most-Favoured-Nation status, later renamed Permanent Normal Trade Relations under US President Bill Clinton's administration. Hong Kong still needs to make both sides better realise its significance. And that is, the city can help show Washington the upside of smooth bilateral trade relations, while US businesses can always enjoy a free and friendly environment here, the report concluded.
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