The global maritime transport sector, responsible for moving 80% of world trade, faces a scenario of uncertainty amid the new trade policies of U.S. President Donald Trump. The imposition of tariffs and the rise of protectionism are raising concerns among shipping companies, importers, and logistics firms attending the S&P Global TPM conference in Long Beach, California. The event brings together industry giants such as MSC, Maersk, Hapag-Lloyd, Walmart, DHL, and DSV to discuss the impact of these new policies on international trade and supply chains.
Trump has already imposed an extra 10% tariff on Chinese products and proposed million-dollar fees on vessels built in China entering U.S. ports. Additionally, his administration plans to introduce 25% tariffs on Mexican exports such as avocados and tequila, as well as on Canadian beef, lumber, and oil exports. Further tariffs on steel, aluminum, and European Union products are also being considered. These measures are expected to impact maritime transport, reducing trade volumes and putting pressure on freight prices.
The global market is already facing challenges, including shipping route diversions from the Suez Canal to avoid Houthi attacks in the Middle East and rising logistics costs due to extreme weather events. Amid this instability, U.S. importers have been stockpiling goods ahead of potential tariffs, temporarily increasing demand for maritime transport. However, experts warn of a possible downturn once the new tariffs take effect, leading to retaliation from affected countries and a decline in consumer demand.
The Drewry World Container Index, which tracks the cost of shipping a 40-foot container, was recorded at $2,629 last Thursday, a 75% drop from its peak of $10,377 during the pandemic.
Another measure that has alarmed the industry is a proposal by the Office of the U.S. Trade Representative (USTR) to impose heavy fees on ships built in China as part of a plan to boost domestic U.S. shipbuilding. Under this proposal, vessels owned by the Chinese state-run COSCO would face charges of up to $1 million per entry into U.S. ports, while ships from other operators built in China could be subject to fees of up to $1.5 million.
Source Portos&Navios
