New tariffs could start a trade war. Here’s how they will affect Manatee County
The Star Navarra, loaded with Argentinian aluminum, was unloading its cargo Thursday at Port Manatee.
In itself, that’s nothing unusual, considering that Port Manatee imports 97,882 tons of aluminum annually and 5,552 tons of steel.
What made the fresh cargo noteworthy was that President Donald Trump announced tariffs Thursday on about $60 billion worth of Chinese imports, to go along with previously announced selective tariffs on steel and aluminum imports.
Carlos Buqueras, the executive director of Port Manatee, said he is keeping an eye on the situation to determine what economic impact the tariffs might have on the bottom line of port operations.
“We don’t own the cargo,” Buqueras said, adding that while the port won’t be liable for paying tariffs, the new punitive fees could have an impact on the port’s budget.
“We are monitoring the situation to determine from a revenue standpoint what the economic impact could be. It’s too early to say,” he said.
The aluminum that arrives at Port Manatee goes to manufacturers of everything from automobile engines to patio screens to metal docks.
We are monitoring the situation to determine from a revenue standpoint what the economic impact could be. It’s too early to say.
Carlos Buqueras
the executive director at Port Manatee“It would appear that some of our customers are stocking up on aluminum,” Buqueras said of anticipation of the new tariffs.
The Trump administration previously stated that Canada and Mexico would be exempt from the tariffs of aluminum and steel. On Thursday, U.S. Trade Representative Robert Lighthizer said that Argentina is among the nations exempt from the tariffs on aluminum.
The tariffs announced on China are in response to Chinese theft of U.S. intellectual property.
Buqueras expected any impact of the tariffs on Port Manatee operations to be small.
“It will be a small impact because of our diversity. The same ship also brings in lumber and fiber,” he said.
Primary imports at Port Manatee include tropical fruits and vegetables, citrus juices, natural gas, refined petroleum products, forest products, aggregates, cement, fertilizer, corn and salt, in addition to aluminum and steel.
James A. Jones Jr.: 941-745-7053, @jajones1
This story was originally published March 22, 2018 at 4:01 PM with the headline "New tariffs could start a trade war. Here’s how they will affect Manatee County."