Business leaders say SoCal will be hurt most by Trump's trade wars
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[{'start': '0.240', 'end': '4.720', 'text': 'Tariffs and the resulting trade war are'}, {'start': '2.240', 'end': '6.240', 'text': 'having a major impact on our economy and'}, {'start': '4.720', 'end': '8.480', 'text': 'that spells trouble for international'}, {'start': '6.240', 'end': '10.160', 'text': 'trade out of local ports. Conan Nolan'}, {'start': '8.480', 'end': '12.719', 'text': 'joins us now with more on the talk of'}, {'start': '10.160', 'end': '14.799', 'text': 'trade concerns at the annual World Trade'}, {'start': '12.719', 'end': '17.039', 'text': 'Week conference in Exposition Park.'}, {'start': '14.799', 'end': '19.520', 'text': 'Conan? Yeah, well, what is clear is that'}, {'start': '17.039', 'end': '21.119', 'text': 'there seems to be no master plan. The'}, {'start': '19.520', 'end': '23.519', 'text': "President Trump says he's conducting"}, {'start': '21.119', 'end': '25.519', 'text': 'trade negotiations, but no deals have'}, {'start': '23.519', 'end': '28.400', 'text': 'been announced or are expected to be'}, {'start': '25.519', 'end': '30.160', 'text': 'announced anytime soon. China says'}, {'start': '28.400', 'end': '33.040', 'text': "they're not negotiating and they're not"}, {'start': '30.160', 'end': '35.600', 'text': 'graveling to Mr. Trump. And as such, the'}, {'start': '33.040', 'end': '36.600', 'text': 'future of the California economy is very'}, {'start': '35.600', 'end': '38.960', 'text': 'much'}, {'start': '36.600', 'end': '41.200', 'text': 'uncertain. In the past, it has been an'}, {'start': '38.960', 'end': '43.280', 'text': "event celebrating the region's lynchpin"}, {'start': '41.200', 'end': '45.600', 'text': 'status as the leader in international'}, {'start': '43.280', 'end': '47.600', 'text': 'trade. The center of which is the Los'}, {'start': '45.600', 'end': '49.840', 'text': 'Angeles and Long Beach Harbors, the'}, {'start': '47.600', 'end': '52.000', 'text': 'largest port complex in the nation, the'}, {'start': '49.840', 'end': '54.719', 'text': 'destination for massive container ships'}, {'start': '52.000', 'end': '56.640', 'text': 'that ply the Pacific from China. But'}, {'start': '54.719', 'end': '58.800', 'text': 'this year at the LA Chambers trade'}, {'start': '56.640', 'end': '61.760', 'text': 'conference held at USC, there was'}, {'start': '58.800', 'end': '63.680', 'text': 'concern, worry, and forboing. The'}, {'start': '61.760', 'end': '66.000', 'text': 'consumer is going to suffer because'}, {'start': '63.680', 'end': '68.159', 'text': 'prices are going to go up. We probably'}, {'start': '66.000', 'end': '70.960', 'text': "are facing inflation and it's going to"}, {'start': '68.159', 'end': '74.159', 'text': 'be a problem. Tariffs that are being uh'}, {'start': '70.960', 'end': '76.400', 'text': 'implemented is really a holding back of'}, {'start': '74.159', 'end': '78.640', 'text': "a thriving economy. That's the bottom"}, {'start': '76.400', 'end': '80.320', 'text': 'line. Could be critical for labor. It'}, {'start': '78.640', 'end': '82.479', 'text': 'could be critical for the American'}, {'start': '80.320', 'end': '84.640', 'text': 'consumer. It could be critical for the'}, {'start': '82.479', 'end': '86.080', 'text': 'economy. No region is expected to suffer'}, {'start': '84.640', 'end': '88.080', 'text': "more from President Donald Trump's"}, {'start': '86.080', 'end': '90.479', 'text': 'worldwide trade war than Southern'}, {'start': '88.080', 'end': '92.880', 'text': 'California, with Chinese ship traffic'}, {'start': '90.479', 'end': '95.280', 'text': 'expected to be half of normal. Cargo'}, {'start': '92.880', 'end': '98.720', 'text': 'loaded from China after April 9th face'}, {'start': '95.280', 'end': '101.200', 'text': 'the 145% tariff imposed by the White'}, {'start': '98.720', 'end': '103.840', 'text': 'House. For many importers, the import'}, {'start': '101.200', 'end': '106.079', 'text': 'tax is simply too steep to do business.'}, {'start': '103.840', 'end': '107.720', 'text': 'And shippers are now either sourcing'}, {'start': '106.079', 'end': '110.240', 'text': 'their product from somewhere other than'}, {'start': '107.720', 'end': '112.240', 'text': "China or because they've advanced their"}, {'start': '110.240', 'end': '114.360', 'text': "shipments, they're slowing how much"}, {'start': '112.240', 'end': '116.880', 'text': 'cargo makes their way here to our'}, {'start': '114.360', 'end': '118.640', 'text': 'complex. No one wins in a trade war.'}, {'start': '116.880', 'end': '120.640', 'text': 'Congressman Brad Sherman is on the House'}, {'start': '118.640', 'end': '122.880', 'text': 'Financial Services Committee. He says'}, {'start': '120.640', 'end': '125.360', 'text': 'the president needs to phase in tariffs'}, {'start': '122.880', 'end': '130.000', 'text': 'to give businesses time to plan. The'}, {'start': '125.360', 'end': '133.120', 'text': 'idea of 145% or even 10% uh going on uh'}, {'start': '130.000', 'end': '134.800', 'text': 'in in a week is is is absurd because the'}, {'start': '133.120', 'end': '136.640', 'text': 'supposed purpose is to encourage'}, {'start': '134.800', 'end': '138.000', 'text': 'building factories in the United States.'}, {'start': '136.640', 'end': '139.760', 'text': "Well, you can't build a factory in a"}, {'start': '138.000', 'end': '142.000', 'text': 'week. Mayor Karen Bass today trying to'}, {'start': '139.760', 'end': '145.280', 'text': 'be upbeat. The Olympics are three years'}, {'start': '142.000', 'end': '148.000', 'text': 'away. So, we want the world to know that'}, {'start': '145.280', 'end': '150.400', 'text': "there's no better time to visit, to"}, {'start': '148.000', 'end': '151.920', 'text': 'invest in, and to partner with Los'}, {'start': '150.400', 'end': '153.760', 'text': 'Angeles.'}, {'start': '151.920', 'end': '155.760', 'text': 'Notice she made a pitch for tourism'}, {'start': '153.760', 'end': '157.760', 'text': "because that's dropping. The mayor says"}, {'start': '155.760', 'end': '159.920', 'text': 'her office does stand with the import'}, {'start': '157.760', 'end': '162.800', 'text': 'export community and is offering any'}, {'start': '159.920', 'end': '164.160', 'text': 'support she can. She did thank the Trump'}, {'start': '162.800', 'end': '166.480', 'text': 'administration for one thing in her'}, {'start': '164.160', 'end': '168.720', 'text': 'speech today. The EPA has cleared 1,000'}, {'start': '166.480', 'end': '171.200', 'text': 'lots of hazardous debris, the fastest'}, {'start': '168.720', 'end': '172.959', 'text': 'time of any fire disaster in the state,'}, {'start': '171.200', 'end': '175.200', 'text': 'months uh in fact a year ahead of'}, {'start': '172.959', 'end': '178.640', 'text': "schedule. So that's the good news. That"}, {'start': '175.200', 'end': '178.640', 'text': 'is something. Thank you, Conan.'}]