US shippers to accelerate 2024 import schedules
- Latest News
- Friday, 22 March 2024
The threat of major hikes in US import tariffs, combined with the fear of union action at East Coast ports and longer transit times due to the Red Sea crisis, is prompting US shippers to accelerate 2024 import schedules.
Former US president Donald Trump has warned he will impose a universal baseline tariff of 10 per cent on all imported goods, and tariffs of more than 60 per cent on imports of Chinese goods if he wins the US election in November.
Although the next US president will not be inaugurated until January 2025, the threat of a strict new tariff regime on top of existing ocean supply chain disruptions is prompting some importers to plan well ahead.
Jon Monroe, container shipping veteran and president of Jon Monroe Consulting, speaking on the Freight Buyers’ Club podcast, that many in trans-Pacific container shipping circles are now preparing for a Trump win.
Annual 2024-25 trans-Pacific shipping contracts are currently being negotiated by carriers and shippers, making the prospect of damaging new tariffs on China-US trade an immediate concern.
“That’s a part of what could be driving first half [container import volumes] to be fairly strong,” said Monroe.
More at https://www.thefreightbuyersclub.com/podcast/freight-markets-politics-the-threat-of-tariffs-and-the-future-of-global-trade-with-brandon-fried-jon-monroe/
Although the next US president will not be inaugurated until January 2025, the threat of a strict new tariff regime on top of existing ocean supply chain disruptions is prompting some importers to plan well ahead.
Jon Monroe, container shipping veteran and president of Jon Monroe Consulting, speaking on the Freight Buyers’ Club podcast, that many in trans-Pacific container shipping circles are now preparing for a Trump win.
Annual 2024-25 trans-Pacific shipping contracts are currently being negotiated by carriers and shippers, making the prospect of damaging new tariffs on China-US trade an immediate concern.
“That’s a part of what could be driving first half [container import volumes] to be fairly strong,” said Monroe.
More at https://www.thefreightbuyersclub.com/podcast/freight-markets-politics-the-threat-of-tariffs-and-the-future-of-global-trade-with-brandon-fried-jon-monroe/
