Xeneta: Trump presidency will reignite US-China trade war and threaten spike in ocean container shipping markets
Donald Trump’s election as US president is a ‘step in the wrong direction’, according to ocean and air freight intelligence platform Xeneta, for international trade as importers fear another spike in ocean container shipping freight rates.
Trump has vowed blanket tariffs of up to 20% on all imports into the US and additional tariffs of 60-100% on goods from China.
Data from Xeneta shows that the last time Trump ramped up tariffs on Chinese imports during the trade war in 2018, ocean container shipping freight rates spiked more than 70%.
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