hillary vaughn is live with more. what you re seeing behind me, the rows and rows of containers lined up. this is not normal. the director of the port of los angeles says there s a backlog of shipping containers because u.s. companies are trying to beat the clock before higher tariffs are enforced in this back and forth between beijing and washington over trade. retailers are rushing to bring in as many imports as they can from overseas. the port says they just wrapped a record year in 2018 for shipments in and out of their port. they moved more cargo in 2018 than they have in the entire century. 9.4 million teus in 2018 and this surge of imports is causing a logistical nightmare here. the director says they don t have enough space to put all of these containers. forced advanced orders, bringing cargo in before the taxes hit. we saw a lull after that.
decision-makers and found squarely in washington. that was my next question, any of the triggers, any of what s causing this and i m sure a government shutdown doesn t help not at all. any of it controllable? if the federal reserve were to decide not to raise interest rates going into 2019, and john williams was interviewed by my colleague steve liesman this morning, he s the president of the federal reserve. he said interest rates next year are not set in stone. if financial conditions deteriorate, the stock market falls more deeply, credit markets get disrupted or we see signs of serious slowing in the economy, the fed may not raise rates again at all. that boosted the market early this morning by 400 points before we started to sell off in the middle of the day. part of it on the shutdown, part of it peter navarro, the president s top trade adviser said the negotiations with the chinese over trade that will begin in january will not be easy, and that sent us to the lows
Detailed text transcripts for TV channel - CNN - 20181207:09:45:45 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.
we are in far better shape to weather this than the chinese are. you have to ask yourself, this is what president trump has been talking about, is it free trade when there s clear evidence of unfair and w.t.o. illegal trading practices by china for several decades. is that fair? is that free? is it free when intellectual property theft occurs? in our hour long meeting with larry cutler this morning, the one word he kept using in talking about the progress of talks between the united states and china over trade was disappointment. it seems that china is completely intransigent about these issues. but everybody is looking forward to this saturday as a potential breakthrough moment. but nobody wants to think about the consequences, neil, if something doesn t shake loose during that meeting on saturday. welcome back.
can you trust who can we rely on and have the positive things that is given a new spin on the european issue how to get our act straight within the european union the answer to macross all those things we can do on our own not relying on the united states as much as we had in the past the truth is also we are still relying on the united states so it is both at the same time it will be we will see when this president s use over which we don t know when it is how much will stay over how much will be gone with the new president right but that s down the road and we still have two more years at least of donald trump in office let s talk about some of that sharper rhetoric that we ve been looking at he s been particularly critical of germany over trade and also over chancellor merkel s immigration policy is that we do have a tweet i believe that we can pull up of that donald trump had sent out on chancellor merkel s immigration policies let s say here the people of germany are