‘Well-protected': JAXPORT CEO predicts tariffs will have minimal impact on operations
The Trump Administration's 10-percent tariff on Chinese goods is now in effect and the 25-percent tariffs on Mexico and Canada could kick in within a month.
The tariffs were the talk of the town at Thursday's State of the Port presentation.
'It'll impact all ports,' said JAXPORT CEO Eric Green.
[DOWNLOAD: Free Action News Jax app for alerts as news breaks]
But Green is optimistic JAXPORT is better positioned than almost any other port to weather the storm.
'There will be an impact, but it will be very minimal to us,' said Green.
Green noted JAXPORT is one of the most diverse ports in North America in terms of where products are imported from and what kind of products come in through the port.
'You have break bulk, autos, you've got containers and you have cruises. So, we see ourselves well protected when it comes to that. So, if any commodity gets hit, you know, it actually helps because we're just as strong in the other,' said Green.
Read: Carnival Cruise Line celebrates 20 years of impact in Jacksonville
For industries around the ports like Air Van Inc, which operates storage facilities and trucking operations, the threat of tariffs proved to be a boon for business in recent months.
'People stockpiling, front loading in anticipation of potential tariffs,' said Air Van Inc CEO Ike Sherlock.
Read: Cost of power line project balloons as JEA and JAXPORT work out cost-sharing agreement
Sherlock said he doesn't anticipate imports slowing, especially not for priority products like those related to the medical field, IT and fintech.
Instead, he anticipates consumers are more likely to feel the brunt of the impacts.
'I think we should all anticipate, for the short-term anyway, higher prices on everything,' said Sherlock.
Read: Potential tariffs on imported goods could affect how much you spend on everyday items
Sherlock said he doesn't anticipate the tariffs will have any major impacts on jobs around the port either.
He said he also expects any impacts to trade will likely subside once the tariffs are either lifted or become the new normal.
[SIGN UP: Action News Jax Daily Headlines Newsletter]
Click here to download the free Action News Jax news and weather apps, click here to download the Action News Jax Now app for your smart TV and click here to stream Action News Jax live.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Skift
21 minutes ago
- Skift
Exclusive Survey: Planners Face Rising Costs and Uncertainty Amidst Trump Policy Shifts
New research by Skift Meetings shows that planners are grappling with the effects of Trump Administration policies on their events — with 9 out of 10 expressing concern about rising costs due to tariffs. Skift Meetings' exclusive survey of 103 meeting professionals* paints a picture of a confusing and challenging landscape for meeting planners as they adjust to new Trump Administration policies. While for some it's business as usual, others are experiencing rising costs from tariffs, cancellations in industries affected by government cuts, fewer international attendees willing to travel to the U.S., and concern about the impact of immigration policies on hotel staffing. Almost a third of respondents (29%) have already changed the location of this year's meetings or incentive trips due to geopolitical conditions. When asked if they are considering changing locations for future events, 39% said yes, 21% were unsure, and 37% said no. Tariff Impacts Rising costs are plaguing the vast majority of planners: When asked about the main concerns impacting their jobs right now, 90% said potential cost increases and 66% said potential recession. A full 82% said they expect meeting costs to increase in 2025–2026 because of the tariffs. Respondents also reported cost increases on promotional products and incentive gifts, combined with an increase in the length of time it takes to receive goods. Certain Industries Hit Hard Government meetings, academic and scientific meetings, and those with international attendees have been hardest hit. Said one anonymous planner: 'The government meetings industry has disappeared.' Kyle Jordan, director of meetings at INFORMS, the Institute for Operations Research and the Management Sciences, said that while he anticipates 10-15% lower attendance this year because 35% of his attendees come from outside of the U.S., 'As an academic-focused organization, we anticipate seeing a bigger hit to our domestic attendance in 2026 as universities shore up funding for potential long-term court battles.' International Attendees Staying Home International attendees now face a combination of visa challenges and concerns about border access and safety. 'Our international members have informed us that traveling to the U.S. for a conference is currently not in the cards,' said an anonymous planner. 'Many of our members have lost funding, and are having to cut back conference attendance. Overall, our registration pace is much slower than it has been the last three years.' Mark Phillips, chief operating officer at LamontCo, said he has seen international attendance at U.S. meetings drop by 30% or more, 'especially those where the air tickets have not yet been purchased.' As cross-border tensions have increased, plans for inbound meetings from Canada are getting nixed. Of those respondents with Canadian clients or divisions in Canada who were planning to meet in the U.S. this year, 18% have already changed their plans and 15% were considering doing so. Hotel Staffing Concerns Another concern among planners is the potential effect of immigration policies on hotel staffing, including kitchen help, housekeeping, and banquet servers. More than two-thirds of respondents (72%) said they expect hotel staffing to be impacted in 2025–2026, while 15% were unsure and 13% did not foresee any impact. State of Confusion A number of respondents, including LamontCo's Phillips, said they expected more regional meetings as a result of the falloff in international attendance. Other impacts mentioned by respondents included scaling back on using 5-star properties; looking for much lower rates than in the past; longer lead times for sourcing and contracting; challenges for students and attendees of color getting needed support to attend certain meetings; and tradeshow exhibitor cancellations. Even for those planners who said they are not feeling any impact from Trump Administration policies, Tim Barrett, senior director, global meetings at Destination South, summed up the current state of confusion being felt by many respondents: 'It's chaotic, especially the whiplash of one day to the next and the differing totals and/or start dates.' TOP 7 PLANNER CONCERNS (ranked by percentage of respondents) Potential cost increases (90%) Potential recession (66%) Entry challenges for incoming international attendees (57%) Job security (45%) Challenges with bringing U.S. groups internationally (44%) Challenges for LGBTQ+ attendees (28%) Pregnant attendees requiring emergency care (15%) *Methodology: Skift Meetings' email survey of meeting planners was conducted between May 9 and June 9, 2025, resulting in 103 usable responses.
Fast Company
21 minutes ago
- Fast Company
At London trade talks Trump says ‘China's not easy'
The U.S. and China held a second day of talks Tuesday in London aimed at easing their trade dispute, after President Donald Trump said China is 'not easy' but the U.S. was 'doing well' at the negotiations. A Chinese delegation led by Vice Premier He Lifeng met U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer for several hours on Monday at Lancaster House, an ornate 200-year-old mansion near Buckingham Palace. Wang Wentao, China's commerce minister, and trade negotiator Li Chenggang are also in Beijing's delegation. Lutnick said as he arrived Tuesday morning that the talks were 'going well,' and he expected them to continue all day. Asked late Monday how the negotiations were going, Trump told reporters: 'We are doing well with China. China's not easy.' The two sides are trying to build on negotiations in Geneva last month that agreed to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession. Since the Geneva talks, the U.S. and China have exchanged angry words over advanced semiconductors that power artificial intelligence, visas for Chinese students at American universities and rare earth minerals that are vital to carmakers and other industries. Trump spoke at length with Chinese leader Xi Jinping by phone last Thursday in an attempt to put relations back on track. Trump announced on social media the following day that the trade talks would resume in London. China, the world's biggest producer of rare earths, has signaled it may ease export restrictions it placed on the elements in April, alarming automakers around the world who rely on them. Beijing, in turn, wants the U.S. to lift restrictions on Chinese access to the technology used to make advanced semiconductors. Trump said that he wants to 'open up China,' the world's dominant manufacturer, to U.S. products. 'If we don't open up China, maybe we won't do anything,' Trump said at the White House. 'But we want to open up China.'
Business Insider
21 minutes ago
- Business Insider
Russia produces as much ammo in 3 months as all of NATO does in a year, says NATO chief
Russia produces as much ammunition in three months as NATO does in a year, NATO Secretary General Mark Rutte has warned. Speaking at the Chatham House think tank in London on Monday, Rutte called on the alliance to urgently ramp up weapons production. "In terms of ammunition, Russia produces in three months what the whole of NATO produces in a year," he said. "Russia is reconstituting its forces with Chinese technology and producing more weapons faster than we thought," Rutte added. He called for a "quantum leap" in how Europe defends itself, and said, "We must have more forces and capabilities to implement our defense plans in full." Rutte said Russia was expected to produce 1,500 tanks, 3,000 armored vehicles, and 200 Iskander missiles in 2025. Russia has massively ramped up its weapons and ammunition production to fuel its war against Ukraine, placing its economy on a war footing. It's received support from allies including China, Iran, and North Korea. Russia spent 13.1 trillion rubles, around $145.9 billion, on its military last year, a report by the International Institute for Strategic Studies said. This is equivalent to 6.7% of the country's gross domestic product and a 41% annual increase in real terms, per the report. European defense spending was $457 billion last year, the report said, a real-terms increase of almost 12% on the year before and a 50% increase in real terms from 2014 spending levels. If purchasing power parity is factored in, then Russia's expenditure is equivalent to around $461.6 billion, the report said. The US is NATO's largest military power, and President Donald Trump has pressured European members to boost their military budgets. Rutte has backed US calls to raise the amount NATO members are required to spend on their military from 2% to 5%. The war in Ukraine has become a gruelling war of attrition, with both sides firing thousands of rounds of ammunition daily. But Ukraine's NATO allies have struggled to increase production to provide arms to Ukraine while rebuilding their stockpiles, amid warnings that Russia could be preparing to attack NATO in a matter of years. "We are all on the eastern flank now. The new generation of Russian missiles travels at the speed of sound. The distance between European capitals is only a matter of minutes. There is no longer east or west. There is just NATO," Rutte added.
