Latest news with #USImports
South China Morning Post
29-05-2025
- Business
- South China Morning Post
Trade turbulence to slow Chinese airlines' growth, add to Boeing delays: analysts
Despite recent tariff cuts, remaining duties on imports from the US could force Chinese buyers of Boeing jets to pay millions of US dollars more than before and, along with worldwide delivery delays, contribute to a sharp slowdown in the growth of China's aviation capacity, analysts said. Held back by tariffs and global supply chain constraints, China's civil aviation passenger capacity is likely to grow by an average of 3.1 per cent a year until 2028, analysts at China International Capital Corporation (CICC) said in a note released on Wednesday. That capacity grew at an average annual rate of 15.4 per cent in the decade to 2019. 'Despite lower tariff rates, Chinese airlines remain reluctant to import Boeing aircraft in the short term,' the analysts said, citing remaining duties on imports from the United States that 'could add several million to over 10 million US dollars' to the cost of each plane. 'Deliveries may be delayed, and we expect some orders may even be cancelled by Chinese airlines,' they said. Amid this year's trade upheaval, some Chinese airlines refused to accept deliveries of Boeing planes, the US aerospace giant's CEO, Kelly Ortberg, confirmed last month. However, deliveries of US-made aircraft reportedly resumed after the bilateral tit-for-tat tariff war cooled off earlier this month.
Trade Arabia
17-05-2025
- Business
- Trade Arabia
Global air cargo demand down on 'de minimis' exemption end
Worldwide chargeable weight declined -1% in week 19 (May 5-11) compared to the previous week, marking a string of contractions since the first week of April that was only interrupted by stable volumes in week 17. The comparison of the last two weeks with the previous two weeks (2Wo2W) shows a worldwide tonnage decline of -3%, with Europe and North America being the only origin regions to see traffic growth of +2% and +3% respectively, partly related to post-Easter recovery for those origins. The end of US 'de minimis' exemption of China origin imports worth less than $800 effective May 2 reinforced the global downward trend in airfreight demand, showing a marked weakening of tonnage moving from China to the US. As a result of weakening demand, the global average rate retreated for a fourth week in a row, dropping from $2.46 in week 15 to $2.34, a -2% decline from week 18. On a 2Wo2W comparison the global average rate was down also -2%, based on over 500,000 weekly transactions covered by WorldACD's data. This was -3% lower than in week 19 of 2024, showing an increasing gap in year-on-year comparisons. North America and Europe, up +3% and 1% week on week respectively, were the only origin regions to show increases in pricing.- TradeArabia News Service
Yahoo
10-05-2025
- Business
- Yahoo
A month into the trade war, China's exports to the US have already plummeted over 20%
Shipments from China to the US fell sharply last month as the trade war kicked off. Chinese exports dropped 21% from a year ago. Trade is picking up between China and its neighbors, data shows. The first hard data to emerge from the US-China trade war shows trade between the world's two biggest economies is already way down. Chinese exports to the US tanked 21% in April compared to a year ago, according to customs administration data cited by Bloomberg. Imports from the US into China fell nearly 14% year over year. Trading volumes have dropped as a result of the punitive tariffs both countries have imposed after President Donald Trump ramped up duties on imports from China to 145% last month. Port authorities have been on the lookout for trade ramifications to bubble up, warning that tariffs could significantly shrink inventories in the US and lead to price hikes. Last month, Apollo's top economist predicted empty shelves would start appearing in May and the US would fall into a recession by the summertime. Imports from China in 2024 totaled $438.9 billion, making the country America's second-biggest trading partner. China has found alternatives to US markets for the time being. Data shows that total Chinese exports surged 8.1% in April, with Asian markets leading the increase. Volumes to India and the ASEAN trade group, made up of 10 Southeast Asian economies, rose by more than 20%. US investors and economists hope tensions will ease this weekend as the US and China hold trade negotiations. President Donald Trump on Friday said that 80% tariffs on China "seems right," which would mark a significant reduction from 145% while still remaining higher than any previous duties. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-05-2025
- Business
- Yahoo
A month into the trade war, China's exports to the US have already plummeted over 20%
Shipments from China to the US fell sharply last month as the trade war kicked off. Chinese exports dropped 21% from a year ago. Trade is picking up between China and its neighbors, data shows. The first hard data to emerge from the US-China trade war shows trade between the world's two biggest economies is already way down. Chinese exports to the US tanked 21% in April compared to a year ago, according to customs administration data cited by Bloomberg. Imports from the US into China fell nearly 14% year over year. Trading volumes have dropped as a result of the punitive tariffs both countries have imposed after President Donald Trump ramped up duties on imports from China to 145% last month. Port authorities have been on the lookout for trade ramifications to bubble up, warning that tariffs could significantly shrink inventories in the US and lead to price hikes. Last month, Apollo's top economist predicted empty shelves would start appearing in May and the US would fall into a recession by the summertime. Imports from China in 2024 totaled $438.9 billion, making the country America's second-biggest trading partner. China has found alternatives to US markets for the time being. Data shows that total Chinese exports surged 8.1% in April, with Asian markets leading the increase. Volumes to India and the ASEAN trade group, made up of 10 Southeast Asian economies, rose by more than 20%. US investors and economists hope tensions will ease this weekend as the US and China hold trade negotiations. President Donald Trump on Friday said that 80% tariffs on China "seems right," which would mark a significant reduction from 145% while still remaining higher than any previous duties. Read the original article on Business Insider
Reuters
08-05-2025
- Business
- Reuters
EU sets out 95 bln euro countermeasures to U.S. tariffs
BRUSSELS, May 8 (Reuters) - The European Commission proposed on Thursday countermeasures on up to 95 billion euros ($107.2 billion) of U.S. imports if negotiations with Washington fail to remove the series of tariffs applied by U.S. President Donald Trump. The new measures, representing the EU's response to U.S. import tariffs on cars and its broader 'reciprocal' tariffs, would target U.S. wine, fish, aircraft, car and car parts, chemicals, electrical equipment, health products and machinery. The European Commission, which coordinates trade policy for the 27-nation EU, said it was launching a month-long consultation for EU members and business to react. It will then take a final decision on its counter-tariffs, likely to hit a smaller volume of U.S. imports. The announcement of a new list of products the EU may target comes on the day Trump is expected to announce a trade deal between the United States and Britain. The EU currently faces 25% U.S. import tariffs on its steel, aluminium and cars and so-called "reciprocal" tariffs of 10% for almost all other goods, a levy that could rise to 20% after Trump's 90-day pause expires on July 8. The Commission, which coordinates trade policy for the 27 EU members, has repeatedly said it would prefer a negotiated solution to tit-for-tat tariffs, but wants to have a retaliatory response ready for July in case no solution is found. The bloc in April approved duties mostly of 25% on U.S. imports amounting to 21 billion euros, including maize, wheat, motorcycles and clothing. These, a response to U.S. metals tariffs, were suspended before entering force, after Trump announced his 90-day pause. The Commission has said U.S. tariffs in place now covered 380 billion euros or 70% of EU goods trade to the U.S. and that could rise to 97% after further U.S. investigations into pharmaceuticals, semiconductors, critical minerals and trucks. U.S. Vice President JD Vance said on Wednesday that discussions between the United States and Europe were ongoing and that Washington was pressing the EU to lower its tariffs and regulatory barriers to improve the trading relationship. ($1 = 0.8859 euros)
