trade wars - THE RIDGEWOOD BLOG.

photo :US Dollar vs Chinese Yuan 1 Year Currency Chart (via XE Corporation)

Barring unforeseen circumstances, the United States will likely win the trade war with China. However, the end result may not be as great for the United States as President Trump and his supporters may hope.

When all is said and done, the United States will likely come out of this trade war as the unanimous victor. Economically, China simply cannot keep up with the United States when it comes to handling tariffs. Although both countries may see their exports suffer, the results for China will be much worse, given that 14% of the Chinese economy is dependent on exports to the US, compared to just 4% of the US economy that is dependent on exports to China. This trade imbalance will cause the Chinese economy a lot more pain than what their counter tariffs can possibly inflict on the United States. If China doesn’t take the necessary steps to end this trade war, their economy will suffer massively in comparison to the United States. Continue reading Winning the Trade War Doesn’t Mean Victory

July 26,2018
the staff of the Ridgewood blog

Newark NJ, after immense pressure by the Trump administration ,the European Union says that it has agreed to a series of concessions that would avoid a costly trade war with the US. The EU has agreed to:

• Increase liquefied natural gas (LNG) imports from the United States;
• Lower tariffs;
• Align regulatory standards on medical products;
• Import more US soy beans.

The European Union delegation, led by European Commission President Jean-Claude Juncker and his top trade officials, met with President Donald Trump in a bid to level the field on trade. The official said the EU has agreed to work with the Trump administration to lower tariffs on both sides of the Atlantic .The delegations are still fine tuning language in a common statement on car tariffs. There will be no further tariffs as the details are worked out.

Port Newark–Elizabeth Marine Terminal in New Jersey could be the prime beneficiary or any trade agreement lowering tariffs and promoting trade .The Port Newark–Elizabeth Marine Terminal, a major component of the Port of New York and New Jersey and perhaps the most successful component . Port Newark–Elizabeth Marine Terminal is the principal container ship facility for goods entering and leaving New York metropolitan area and the northeastern quadrant of North America and is one of the few areas of job creation success in New Jersey .

The port is located on Newark Bay, the facility is run by the Port Authority of New York and New Jersey. Its two components—Port Newark and the Elizabeth Marine Terminal (sometimes called “Port Newark” and “Port Elizabeth”)—sit side by side within the cities of Newark and Elizabeth, New Jersey, just east of the New Jersey Turnpike and Newark Airport

As of 2004,Port Newark–Elizabeth Marine Terminal was the largest container port in the eastern United States and the third-largest in the country.Since 1998, the port has seen a 65% increase in traffic. In 2003, the port moved over $100 billion in goods. In 2006, it handled more than 20% of all US imports from Germany a major European trading partner .