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Date: 21/11/2024

Trump’s vow on tariff sends shockwaves through supply chain

As Trump has vowed across-the-board tariffs of 10% to 20% on all imports arriving into the United States and a 60%-100% tariff on Chinese imports, retailers and manufacturing companies have been increasingly calling logistics partners about front-loading shipments ahead of any changes in tariff policy to be pursued by President-elect Donald Trump, who campaigned on an aggressive expansion of existing US tariffs on cross-border trade. Mr Paul Brashier, Vice President of global supply chain for ITS Logistics, said this is 2018 all over again, referring to the year in which Trump first imposed sweeping tariffs during his first term. 
 
The calls expand beyond shippers who have Chinese imports. The global tariff threat is fuelling calls for frontloading from all around the globe. Mr Brashier expects Trump’s election to result in increased container demand and vessel bookings, which will then fuel freight rates, trucking and warehouse rates, as per a report.
 
source: Exim News Service: Washington, Nov. 20



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