No relief for transpacific trade despite talk of lower China tariff
- Trump says tariffs on China will come down ‘substantially’, but China maintains there are no trade talks underway with US
- It will take time for fallout from trade war to hit US store shelves because of the length of ocean transits and US inventory levels
- Carriers continue to reduce transpacific capacity; Ocean Alliance sees highest level of blank sailings, according to eeSea
Trump has already backtracked on reciprocal tariffs on all countries but China, on Mexican and Canadian goods covered by existing free trade agreements, and on imports of Chinese electronics. Is the 145% tariff on the rest of Chinese goods the next to fall?
