22-05-2025
Global transport leaders warn of rising risks from US tariffs at ITF 2025
Maritime transport accounts for 75% of trade, vulnerable to tariff wars: ITF chief
LEIPZIG, Germany ― Global transport executives voiced concerns over escalating trade wars, particularly driven by tariff measures imposed by the US, and their impact on maritime transport at the International Transport Forum 2025's annual summit in Leipzig, Germany.
'The transport links that connect the world are under pressure and governments face enormous tasks to protect transport infrastructure against increasing disruptions,' said Kim Young-tae, secretary-general of the International Transport Forum, during a press conference at the Congress Center Leipzig on Wednesday.
'(One of their challenges is the global industries') more connected, and therefore more vulnerable, supply chains. Maritime transport moves around 75 percent of global cargo, and these disruptions can have an immediate impact.'
Kim highlighted the Red Sea crisis, which has effectively forced vessels to abandon their most efficient sea routes, leading to a surge in international freight rates.
'We know that we're passing through very difficult moments, including the tariff issues, geopolitical tensions and (ongoing challenges) since the COVID-19 pandemic in 2020,' Kim noted. 'I think that's why the platform like the ITF should play (a role as) a very efficient and productive gathering of different views from different actors from the world.'
Kim urged many countries to join the ITF to enhance diversity and strengthen collaboration on key agendas, noting that out of the 69 member countries, 44 are from Europe.
Claudia Stutz, state secretary of the Ministry of Transport of Germany, also expressed concerns on the ongoing trade dispute, saying, 'For Germany, our focus has shifted significantly due to the global crisis and geopolitical tensions. Economic security and supply (chain) and the protection of critical infrastructure have taken center stage. … Increasing the resilience of transport change is a key objective of German transport and infrastructure policy.'
Germany, which primarily exports automobiles, pharmaceuticals, machinery and electrical equipment to the US, is among the European countries most affected by the tariff policies initiated by US President Donald Trump. According to the Leibniz Institute for Economic Research at the University of Munich, Germany is expected to incur losses of 290 billion euros ($329 billion) in the next four years due to the "reciprocal tariffs" from the US.
Under Chile's presidency this year, the annual ITF summit has been running from Tuesday to Friday, drawing approximately 1,253 participants, including 57 ministerial-level delegations, along with representatives from international organizations and businesses.
Founded in 2006, the ITF at the Organization for Economic Cooperation and Development is the largest annual gathering of transport ministers in Leipzig, serving as a platform to address global transport issues and policies. South Korea joined the European Conference of Ministers of Transport, the predecessor of the ITF, in 2000.
