Trump hikes tariffs again, putting more pressure on transpacific rates
- Evercore ISI predicts that US tariffs will ultimately land at an average of 18%; that would be highest since 1933, according to Budget Lab at Yale stats
- SCFI puts current Shanghai-US west coast spot rates at $2,021 per feu, down 68% y/y, and Shanghai-US east coast spot rates at $3,126 per feu, down 67% y/y
- US cargo bookings in China during past four weeks fell 25% y/y, with bookings from all sources down 9%, according to Vizion data
The transpacific outlook has gone from bad to worse now that US President Donald Trump has reinstituted higher tariffs on goods imported from around the globe
