A spokesperson for the German container shipping group Hapag-Lloyd told Reuters on April 23rd, 2025, that their customers have cancelled 30% of shipments from China to the United States. This significant drop is attributed to the ongoing trade conflict between the world’s two largest economies, which has created uncertainty and impacted trade flows.
Global Trade Situation
The trade situation between the United States and China has seen the implementation of tariffs on goods, with the U.S. imposing 145% duties on Chinese goods and China responding with 125% duties on U.S. goods. This has led to adjustments in shipping practices, with some companies opting to utilize smaller vessels on routes to the U.S. to maintain passage frequency.
Looking at the broader economic landscape, there is a recognition that global economic output may experience a slowdown. President Trump has expressed optimism regarding potential progress with China, indicating a willingness to substantially lower tariffs on imports if a deal is reached. He also conveyed a firm stance, stating that if a deal is not achieved, the U.S. will proceed on its terms.
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Source: Reuters
