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Fibre2Fashion
19-05-2025
- Business
- Fibre2Fashion
China-US ocean cargo bookings rise by nearly 300% after tariff truce
Ocean cargo bookings from China to the United States have increased by nearly 300 per cent after both countries agreed to suspend reciprocal tariffs for 90 days following negotiations in Switzerland, according to container-tracking service provider Vizion. The most recent seven-day booking average for shipments in the route reached 21,530 twenty-foot equivalent units (TEU)—up from 5,709 TEU for the week ending May 5, Vizion's vice president Ben Tracy said Ocean cargo bookings from China to the United States have increased by nearly 300 per cent after both countries agreed to suspend reciprocal tariffs for 90 days following negotiations in Switzerland, according to container-tracking service provider Vizion. Shipping companies have responded positively to the tariff relief. The rush may lead to supply-chain bottlenecks and a rise in freight costs. The truce witnessed US tariffs drop to 30 per cent and Chinese tariffs to 10 per cent. US importers had paused shipments after April 2, when President Donald Trump announced plans to impose 145 per cent tariffs on Chinese goods. Analysts now expect the peak shipping season to arrive earlier than usual. Shipping companies have responded positively to the tariff relief, according to global newswires. Bookings for Maersk's trans-Pacific services have increased since the agreement was announced. German container shipping firm Hapag-Lloyd reported its bookings were up by 50 per cent for US-China traffic week-on-week in the first few days of last week. Logistics firm Portless said US retailers and several clothing brands are rushing to secure China-made merchandise for the summer shopping season. The current rush, however, may lead to supply-chain bottlenecks—less severe than during the pandemic years, and a rise in freight costs. Fibre2Fashion News Desk (DS)
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Business Standard
15-05-2025
- Business
- Business Standard
China to US ocean cargo bookings surge nearly 300% after tariff truce
Ocean cargo bookings from China to the United States have surged nearly 300 per cent after both countries agreed to suspend tit-for-tat tariffs for 90 days, container-tracking service provider Vizion reported. The most recent seven-day booking average for shipments from China to the US reached 21,530 twenty-foot equivalent units (TEU), up from 5,709 TEU for the week ending May 5, according to Vizion's Vice-President Ben Tracy. Tariff truce accelerates shipping demand The truce, announced following negotiations in Switzerland, saw US tariffs drop to 30 per cent and Chinese tariffs to 10 per cent. US importers had paused shipments after April 2, when President Donald Trump announced plans to impose 145 per cent tariffs on Chinese goods. Following Monday's suspension, analysts now expect the peak shipping season to arrive earlier than usual. Shipping companies have responded positively to the tariff relief. Maersk said on Tuesday that bookings for its trans-Pacific services have increased since the agreement was announced. 'With an August deadline for possible higher tariff levels, we'll likely see front-loading restart, meaning an early start and probably an early tapering off of the ocean peak season this year,' said Freightos, an international freight booking platform. Retailers rush to stock China-made goods German container shipping firm Hapag-Lloyd reported its bookings were up 50 per cent for US-China traffic week-on-week in the first few days of the current week. Retailers including Walmart and several clothing brands are rushing to secure China-made merchandise for the summer shopping season, said logistics company Portless. The agreement to cut US tariffs on Chinese shipments has prompted orders and shipments of sundresses, bathing suits, clogs and sunscreens from Chinese factories. While the tariff reprieve is a boon for US brands eager to stock up on summer merchandise, the current rush may create supply-chain bottlenecks, though these are likely to be less severe than during the pandemic years of 2021-2022, said CFRA research analyst Arun Sundaram. Sundaram also expects a rise in freight costs as a result of the sudden surge in demand.
Time of India
15-05-2025
- Business
- Time of India
US-China tariff pause: Cargo bookings from China to US surge 300%
Demand for container shipping from China to the US has seen a dramatic surge after the countries agreed to pause retaliatory tariffs, rising almost 300%, according to reports from container-tracking firm Vizion, cited by Reuters. The volume of twenty-foot equivalent units (TEUs) jumped 277 per cent to 21,530 in the week ending May 12, compared with an average of 5,709 TEUs during the previous week, said Ben Tracy, vice president of strategic business development at Vizion. Earlier this year, US importers significantly cut shipments after US President Donald Trump announced on April 2 that tariffs on Chinese goods would soar to 145 per cent. However, trade flows quickly resumed after the two nations agreed to a 90-day ceasefire, on Monday, providing some relief to the escalating trade dispute. As part of the agreement, the US reduced its tariffs from 145 per cent to 30 per cent, while China lowered its duties on American imports from 125 per cent to 10 per cent. "With this temporary pause now in place, we're clearly seeing bookings rebound," Tracy added. Hapag-Lloyd, a German shipping firm also reported a 50 per cent weekly increase in US-China bookings, in the early part of this week. CEO Rolf Habben Jansen commented on the pause agreement, 'We're already witnessing a rise in volume between the US and China, and we expect more to come.' Last week, the two nations agreed to the pause during the trade talks that took place in Geneva, Switzerland, with China's vice premier He Lifeng and US treasury secretary Scott Bessent leading the negotiations. President Trump had initially imposed reciprocal tariffs on dozens of countries with which the US runs trade deficits. However, after various nations entered into negotiations with the US administration, he agreed to a 90-day tariff pause starting April 9, during which a baseline 10 per cent tariff applies to all countries, but excluded China at the time. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
15-05-2025
- Business
- Time of India
Cargo bookings from China to US surges 300% following tariff pause
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The demand in the US for container shipping from China has surged nearly 300 per cent, after a halt in retaliatory tariffs between the two countries, according to container-tracking software provider Vizion reports demand for twenty-foot equivalent units (TEUs), surged 277 per cent to 21,530, as compared to an average of 5,709 TEUs in the week ending May 5, according to Ben Tracy, Vizion's vice president of strategic business US importers responded to President Trump's announcement on April 2 that a 145 per cent tariff would be imposed on Chinese goods by significantly reducing trade has resumed quickly after both nations agreed on Monday to a 90-day pause in the escalating trade part of that, the U.S. scaled back its tariffs from 145 per cent to 30 per cent, while China lowered its duties on American imports from 125 per cent to 10 per cent."With this temporary pause now in place, we're clearly seeing bookings rebound," Tracy shipping company Hapag-Lloyd also reported a 50 per cent week-over-week increase in U.S.-China bookings in the early days of this week. CEO Rolf Habben Jansen commented on the trade ceasefire, saying: "We're already witnessing a rise in volume between the U.S. and China, and we expect more to come."Recently, the United States and China had trade talks in Geneva, Switzerland, last week, where China's Vice Premier He Lifeng and the US Treasury Secretary Scott Bessent are leading the negotiations for their respective President Donald Trump had imposed reciprocal tariffs on dozens of countries with which the US has a trade deficit. Later, President Trump decided to pause the tariffs for 90 days after many countries initiated talks with the US administration for a trade deal. During these 90 days starting April 9, a 10 per cent baseline tariff si imposed by US on all countries.
India Gazette
15-05-2025
- Business
- India Gazette
Cargo bookings from China to US surges 300% following tariff pause
ANI 15 May 2025, 12:37 GMT+10 New Delhi [India], May 15 (ANI): The demand in the US for container shipping from China has surged nearly 300 per cent, after a halt in retaliatory tariffs between the two countries, according to container-tracking software provider Vizion reports demand for twenty-foot equivalent units (TEUs), surged 277 per cent to 21,530, as compared to an average of 5,709 TEUs in the week ending May 5, according to Ben Tracy, Vizion's vice president of strategic business US importers responded to President Trump's announcement on April 2 that a 145 per cent tariff would be imposed on Chinese goods by significantly reducing shipments. However, trade has resumed quickly after both nations agreed on Monday to a 90-day pause in the escalating trade part of that, the U.S. scaled back its tariffs from 145 per cent to 30 per cent, while China lowered its duties on American imports from 125 per cent to 10 per cent.'With this temporary pause now in place, we're clearly seeing bookings rebound,' Tracy shipping company Hapag-Lloyd also reported a 50 per cent week-over-week increase in U.S.-China bookings in the early days of this week. CEO Rolf Habben Jansen commented on the trade ceasefire, saying: 'We're already witnessing a rise in volume between the U.S. and China, and we expect more to come.'Recently, the United States and China had trade talks in Geneva, Switzerland, last week, where China's Vice Premier He Lifeng and the US Treasury Secretary Scott Bessent are leading the negotiations for their respective President Donald Trump had imposed reciprocal tariffs on dozens of countries with which the US has a trade deficit. Later, President Trump decided to pause the tariffs for 90 days after many countries initiated talks with the US administration for a trade deal. During these 90 days starting April 9, a 10 per cent baseline tariff si imposed by US on all countries. (ANI)
