The container maritime transport sector welcomed with satisfaction the agreement reached on Monday between the United States and China to temporarily cut tariffs, and said that it hopes to be favored by the consequent recovery of the purchase commitments of China to the United States.
The United States will reduce the additional tariffs imposed on Chinese imports in April from 145% to 30%, and Chinese tariffs on US imports will drop from 125% to 10% for the next 90 days, as both parties announced on Monday.
The trade between the two largest economies in the world collapsed in a context of confrontation, which led to container transport companies such as MSC and Cosco to suspend regular routes or cancel individual trips. Others considered changing to smaller ships.
It is not yet clear if the tariff relief will cause a great rebound of shipments to the United States. Some Chinese factories were preparing for a rebound.
“It is good news that these gentlemen are speaking and that the figures have dropped from such high levels,” said Gene Seroka, executive director of the port of Los Angeles, the port with the most traffic in the United States and the first entrance door for maritime imports from China.
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“There is still much more work ahead,” said Seroka, adding that 30% tariffs on goods for the world’s main exporter are still significantly higher than before the US president, Donald Trump, assumed the position.
A rebound in maritime transport demand could raise the space of ships.
Importers of critical goods, including hospital supplies such as syringes, intravenous devices or fans, could accelerate the pace if the supplies are running out, Seroka said.
However, other importers could wait for 30% tariffs to increase prices for buyers. Retailers such as Walmart, Target and Home Depot represent approximately half of the world volume of container shipments.
The month of May is when American retailers usually make their orders for the end of the year parties. These products for Halloween, thanksgiving and Christmas usually disembark in US ports between August and October.
“I don’t know if many retailers are going to say: ‘Hey, for our most important time of the year, 30% are fine,” said Seroka.
With Reuters information
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