Drewry: Trade wars threaten container market
The risk to the container transport industry from US-led trade wars is currently low but potentially very damaging according to the latest report by shipping consultancy Drewry.
Simon Heaney, senior manager, container research at Drewry, said: “In the March report we said that we were hopeful of a peaceful resolution, but at this point in time we must accept that tariffs are going to become a reality. The only question now is: how severe will they be?”
Additional tariffs of 25% on the first list of 818 Chinese products, worth approximately US$34bn, are scheduled to be collected by US Customs from July 6.
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