An analysis of the current US trade policy is pointing to major upheavals of supply chains as shippers look for alternative solutions to minimise tariff and Section 301 port fee impacts on costs.
Philip Damas, MD, head of supply chain advisors, at Drewry Shipping Consultants said that freight from China and 14 mainly Asian countries is set to fall, from a total of 22 million teu in 2024, by some 4.5 million teu from China this year, and by about 0.3 million teu from other countries.
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