Tariffs:-
— An Executive Order has put new country-specific reciprocal tariffs into effect. As reported by Freightwaves, the U.S. and Mexico have agreed to a 90-day extension to allow trade discussions to continue. The U.S. and China reached a similar deal, moving the expiration of their existing agreement from August 12th, to 12:01am EST on November 10th.
— The Trump Administration has talked about rolling out industry-specific tariffs to complement the existing country-by-country measures. Some include graphite imports, semiconductors, and pharmaceuticals.
Schedule reliability: In June, schedule reliability rose 1.6% from the previous month, reaching 67.4% overall. Compared to the same month last year, reliability was up 12.8%. Maersk led the pack at 81% reliability, with Hapag-Lloyd close behind at 76.5%.
U.S. Port Volumes: Major ports along all coasts in the U.S. saw increases during the month of July. According to Descartes July Global Shipping Report, the Port of Long Beach posted a month-over-month gain of 24.1%, while Los Angeles saw an increase of 18%. On the East Coast, New York/New Jersey saw a gain of 14.7% while Norfolk and Charleston increased by 12%, each. Finally, on the Gulf Coast, Houston saw a gain of 34.2%.