Metals tariff rocks auto industry, and Trump smiles on bribes in foreign deals
While yesterday’s announcement of 25% tariffs on steel and aluminium imports to the US took ...
HD: DIY RE-PRICINGZIM: A RISING TIDE LIFTS ALL BOATSTSLA: CHINA THREATDAC: KEY REMARKSDAC: SURGING GM: SUPPLY CHAIN WOESMAERSK: ROTTERDAM TEMPORARY SUSPENSION OF OPERATIONSATSG: OWNERSHIP UPDATERXO: COYOTE FILLIP GONEGM: SUPPLY CHAIN HITBA: CUT THE FAT ON THE BONER: STEADY YIELDMAERSK: SELL-SIDE UPDATESDAC: TRADING UPDATE OUT SOONTSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARD
HD: DIY RE-PRICINGZIM: A RISING TIDE LIFTS ALL BOATSTSLA: CHINA THREATDAC: KEY REMARKSDAC: SURGING GM: SUPPLY CHAIN WOESMAERSK: ROTTERDAM TEMPORARY SUSPENSION OF OPERATIONSATSG: OWNERSHIP UPDATERXO: COYOTE FILLIP GONEGM: SUPPLY CHAIN HITBA: CUT THE FAT ON THE BONER: STEADY YIELDMAERSK: SELL-SIDE UPDATESDAC: TRADING UPDATE OUT SOONTSLA: FEEL THE PAIN IN CHINAWMT: GUESS WHATXPO: SURGINGAMZN: LOOKING FORWARD
Containerised exports from 18 Asian countries to the US hit an all-time high of 21.45m teu last year, according to figures compiled by the Japan Maritime Center.
Longer voyages due to the Red Sea crisis, a resilient US economy, fears over industrial action by US dockers and the tariffs on Chinese imports all catalysed shipments, it reports.
US imports from China increased 16% (11.8m teu), from South Korea 15% (1.36m teu), from Japan 8% (670,000 teu) and from Taiwan were up 5% (661,000 teu), especially major items from China such as automobiles and rubber products.
The effect of tariffs on imports from China during US President Donald Trump’s first term, from 2017 to 2021, saw 2024 Asean shipments increase 24% to 5.38m teu, abew record, demonstrating the shift in manufacturing from China to the South-east Asian bloc has become more pronounced.
Shipments from South Asia, including India, also showed a favourable trend, increasing 16% to 1.5m teu, as the subcontinent emerges as a garment production centre.
The Japan Maritime Center also notes that US retailers’ inventory is higher than in 2022. The research foundation said: “With the US east coast port workers reaching a tentative agreement with the terminal operators, and the new Trump administration’s tariff policy, there will be no major changes right away. But we need to keep an eye on how the situation will change after Chinese New Year.”
Clarksons analyst Trevor Crowe also noted that transpacific trade was especially strong last year, and that US retailers had begun importing goods from Asian factories before the start of the peak season in July.
He said: “Front-loading lent support, as shippers rushed to protect supply chains and limit potential disruption from the Red Sea crisis, US port strikes and potential tariffs from the Trump administration.”
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