A cargo ship is sailing towards the docking of a foreign trade container terminal in Qingdao Port, Shandong province, in Qingdao, China, on June 7, 2024.
Judah Levine, head of research for Freightos, says if history is any guide, additional tariffs will fuel ocean freight rates.
Any increase in freight demand will fuel rates, said Peter Sand, chief shipping analyst at ocean freight rate intelligence platform Xeneta.
"When ocean container shipping markets increase, that cost gets passed down the line and ultimately it is the end-consumer who pays the price," Sand added.
Xeneta data shows the last time Trump ramped up tariffs on Chinese imports during the trade war in 2018, the ocean container shipping markets spiked more than 70%.
Persons:
Donald Trump, Trump, Judah Levine, Levine, Biden, Lars Jensen, Peter Sand, Sand
Organizations:
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Locations:
Qingdao Port, Shandong province, Qingdao, China, Asia, U.S . West Coast, Vespucci