‘30-for-30’ tariff deal to lift China-US long haul at expense of Asean rerouting
- US-China ‘30-for-30’ deal cuts tariffs on about $30bn of goods each way, with over 90% of listed products reverting to MFN rates once domestic procedures are done
- Analysts expect some Chinese exports rerouted via Southeast Asia to shift back onto direct China-US lanes, lifting long-haul volumes at the expense of China-Asean short haul
- Deal covers only around 10% of China’s US exports, but any returning cargo could hit a transpacific already short of space
Any cargo the tariff deal pulls back on to direct China-US services could land in a transpacific market already short of space, with congestion tying up 8.5% of the global fleet
