Impact of the US elections on shipping
Impact of the US elections on shipping
Donald Trump is in favour of tariffs and budget deficits. This could lead to a short-term increase in demand for the United States, as some importers would try to import goods before new tariffs come into effect.
In the medium to long term, this is likely to change certain trade patterns, with importers finding ways to adjust their supply patterns to minimise the impact of tariffs, according to Sea-Intelligence.
“Goods will move in different ways, but they will eventually reach the end consumer. A decline in activity on the China-US route is possible, but other routes, such as China-Mexico, will likely pick up the slack,’ said Jeremy Nixon, CEO of Japanese shipping giant Ocean Network Express (ONE), at the Marine Money event held in Singapore in September.
A period of uncertainty is beginning for French giants in the automotive, aerospace, wine and spirits, and luxury goods industries.
