US/China Impacts Transpacific Volume

by | Nov 20, 2019

With discussions continuing on Trump and China’s interim trade agreements, volume on the transpacific trade has continued to plummet.

This year is expected to see the first full year’s decline in trade since the global financial crisis after months of disputes and China/US tariff hikes.

The trade has risen every year since 2009, when global throughput dropped by 10%, and this year is currently forecasted to end with a 2% drop in volume following a significantly low last quarter.

The reduction in movements has not impacted every steamship line, with some carriers actually increasing volumes. During the course of the year, many carriers have adjusted service schedules to align with a lower than expected throughput. 

The potentially good news is that Trump recently commented positively on the trade talks with China, stating “We’re in the final throes of a very important deal, I guess you could say one of the most important deals in trade ever”.

Further reports also suggest that the two teams have reached ‘a common understanding on resolving relevant problems.’ Therefore a positive end may be in sight for exporters and importers, that could enable volumes to return to their previous levels.

 

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