Large Ports Can Weather the Tariff Storm
Authors and Contributors
U.S. Municipal Bond Team
Trade tariffs have been at the forefront of news in the last few months as the Trump administration increased tariffs on geopolitical allies and rivals alike. US trading partners responded in kind, and the administration has returned with additional tariffs. Since tariffs raise costs, which in principal lower demand for both imports and exports, cargo volumes in US ports will likely decline. While this is not a positive credit development for the sector, many ports, particularly large ones with broad and diverse operations, are well positioned to handle the potentially rough seas.
On January 31, 2018, The Boston Company and Standish merged into Mellon Capital to form a combined entity, BNY Mellon Asset Management North America Corporation. Effective January 2, 2019, this entity was renamed Mellon Investments Corporation.