More Trump trade deals spell more trouble for transpacific
- US tariffs now average 20.2%, highest level since 1911, according to Budget Lab at Yale
- Tariffs in Asia, excluding China, appear headed towards 15%-20% range, up from the current 10% baseline
- More certainty on higher tariff levels after August 1 would have a negative effect on container demand as importers adjust to new reality
Uncertainty is bad for trade, but so is certainty — if you are certain your cost of goods will be too high due to tariffs. Hopes the global baseline tariff would stay at 10% have been dashed as more trade frameworks are signed at higher levels
