The global container shipping industry is preparing for a sudden increase in transport volumes, after the United States and China agreed to temporarily reduce their mutual import tariffs. In the coming weeks, it is expected to be particularly busy in American ports, with global implications for logistics chains.
The import tariffs that have been in place since April, 145% on Chinese goods to the US and 125% on American exports to China, have been reduced to 30% and 10%, respectively. This reduction is valid for a period of ninety days, during which companies are trying to take full advantage of the temporary relief. This is reported by the Financieele Dagblad (FD).
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Especially American importers like Walmart and Amazon are seizing the opportunity to quickly replenish their stocks. The renewed demand for Chinese products is leading to an increasing demand for container shipping between Asia and the US. Transport analysts expect that the rates for shipping routes, particularly from Shanghai to Los Angeles, will rise significantly in the coming weeks.
Shipping companies like CMA CGM, which lost up to 50% of their volumes to the US during the trade conflict, see their prospects improving. However, there is concern about the availability of sufficient shipping capacity, as recently planned departures have been cancelled and ships have been redirected to other routes.
European ports may also feel the effects. If the looming US import tariff of 20% on European goods becomes a reality in early July, it is likely that American companies will also accelerate orders in Europe. This would lead to additional pressure on transatlantic container flows.
Source: FD