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

"The crane machinery tax will cost U.S. ports $6.7 billion." Bloomberg reported on the 19th that the American Association of Port Authorities, representing 81 ports across the country, stated that imposing import tariffs on cranes made in China could result in a loss of nearly $6.7 billion for the U.S. and hinder upgrades to infrastructure investment. The association's CEO, Gary Davis, opposed the proposal by the Office of the U.S. Trade Representative to impose a 100% tariff on Chinese-made gantry cranes during a hearing in Washington on Monday. He urged the U.S. Trade Representative's office to exempt the crane machinery tax on orders that have already been placed, as this portion of the tariff could reach $1.8 billion