Tariff effects: Stanley Black & Decker to hike prices; China-to-US shipping down

As many Americans get set to cut their lawns, edge their garden beds, and do other yard work

Stanley Black and Decker announced it's raising prices. The maker of well-known tools, such as Craftsman and DeWalt, says it's the direct effect of tariffs

The company says customers can expect to see another price increase when they go shopping

this summer. It initially hiked prices in April, reportedly due to the impact of tariffs on

products made in China. In addition, Yahoo Finance reports Stanley Black & Decker is shifting its

supply chain in response to the Trump tariffs as well. It quotes CEO Donald Allen as saying

in light of the current environment, we are accelerating adjustments to our supply chain

and exploring all options as we seek to minimize the impacts of tariffs on end users while balancing

the need to protect our business and our ability to innovate for years to come, end quote. The Wall

Wall Street Journal reports the volume of containers loaded with Chinese goods headed for the United States is falling as tariffs take a toll on demand

The report says bookings for the world five biggest container ship operators for trans shipments recently fell by one or more and those shipments are also smaller in terms of numbers of containers

Port of Los Angeles Executive Director Gene Sirocco told the journal he expects container arrivals to be down by about 30 percent to start May

Meanwhile, 17 sailings have been canceled. The report indicates the U.S. imported around 11 million containers from China last year, or about 38 percent of all imports

Shipping executives say the tariffs have so far reduced that volume by about 300,000 boxes

They are hoping the Trump administration and China can negotiate a deal that would lead to demand going back up

President Trump levied tariffs of 145 percent on China in April. As a result, reports indicate Chinese manufacturers are shifting production to factories in Vietnam, Cambodia and Indonesia

The founder and CEO of San Francisco company Flexport, which assists companies in shipping around the world

says after President Trump announced the tariffs in early April, ocean container bookings from China to the United States dropped 60 percent, where they have stayed since

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