In April 2023, container volumes between the US and China dramatically decreased by 30% to 40%, attributed to the introduction of tariffs by the US government. Maersk's CEO, Vincent Clerc, noted that this rapid decline resulted from orders being canceled as companies reassess their strategies amid uncertainty. The drop in Chinese exports to the US was reported at around 20% year-on-year. The tariffs hindered trade flows, compelling businesses to lean on existing inventory and postpone new orders, raising concerns about potential shortages in key industries, particularly in sectors dominated by Chinese supply.
Container volumes between the US and China plunged 30% to 40% in April as President Donald Trump's tariffs took hold, impacting global trade significantly.
The drop coincides with the US's 145% tariff rate on Chinese imports, which went into effect in early April, disrupting existing trade relationships.
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