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Friday, 04/07/2025, 18:00 (GMT +7)
192
Trump Tariffs – July 9 Deadline Approaches
As the July 9 US tariff deadline approaches, the global shipping industry faces significant uncertainty, while experts warn of a cyclical downturn ahead.
President Donald Trump (Photo: The White House)
In less than a week, many of the United States’ trading partners around the world will learn whether bilateral negotiations with the Trump Administration have borne fruit.
If not, various “reciprocal” tariff increases will take effect on July 9, with ripple effects on revenues globally.
From South Africa’s perspective, a range of exports currently subject to a 10% base tariff that applies to all goods from the continent would see their margins eroded significantly if they continued to ship to the United States.
As Wednesday approaches, the “Liberation Day” tariffs proposed by President Donald Trump and his administration – so named because they are supposed to free the US economy from what they see as unfair trade imbalances – are once again dominating shipping headlines.
The Trump administration has said it aims to complete negotiations with its ten largest trading partners after July 4 and could soon impose unilateral tariffs on other countries.
According to the release, tariffs on Vietnam will now be set at 20%, down from 46%.
However, a 40% tariff will be applied to transshipment – a move aimed squarely at China if it re-routes its relabeled exports to the US through Vietnam.
In return, Vietnam is expected to lift its tariffs on US products.
Maersk previously reported that companies are now paying an average effective tariff of about 21% on the value of their container shipments across all imports into the United States, based on its container-weighted average effective tariff index.
The peak, which came shortly after the “Liberation Day” tariff announcement on April 2, was 54%.
According to Clarksons Research, global container volumes rose 4% year-on-year in the first half of the year.
However, the firm warned this week that periods of pre-payment consolidation and suspensions – particularly on the Trans-Pacific – have made the second half of the year more unpredictable for both the container and automotive industries.
HSBC, in a container market report released this week, said the sector has returned to a structural downturn. The bank attributed the decline to the end of the commodity surge fueled by the tariff pause and the potential for weaker demand in the second half of 2025, as pressure from tariffs and the impact of pre-stocking pushed the peak season forward.
See more:
- China's logistics sector sees further improvement in June
- Iranian firm seeks full ownership of Russian port on Caspian Sea
- SEAFREIGHT: Asia-US container rates continue to face downward pressure
- US-Vietnam Trade Deal Hints at Tariffs in Southeast Asia
- China trade outlook improves, but container rates do not
- HMM Moves Forward with Algeciras Port Expansion Plan
- COSCO schedules: Vietnam - North America in Jul 2025
- President Trump Announces 20% Tariff on Vietnam's Exports, Easing Trade Tensions
- Top 5 Container Shipping Lines in the World in 2025
- SITC updates Vietnam-Intra Asia sailing schedules in Jul 2025
- International Shipping and Logistics Market Update - Week 26/2025 | Phaata
Source: Phaata.com (According to Freight News)
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