Questions about Tariffs?
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Tariffs –
Following the announcement on Friday, May 23rd, of a potential 50% tariff on all imports from the European Union – originally set to take effect on June 1st – it now appears the implementation has been postponed, Transport Topics reports. On May 25th, President Trump stated that the tariff would be delayed until July 9th, to allow additional time for negotiations.
As we’ve mentioned a couple of weeks ago, the U.S. and China reached a trade agreement, that paused tariffs for 90 days (till August 14th), bringing them down from 145% to 30%. In addition to that, the President’s reciprocal tariff policy that was originally announced/implemented on April 2nd, still remains paused until the end of July 9th.
Capacity – CMA CGM plans to return to the Suez Canal with an India-Mediterranean service. As the Journal of Commerce reports, the first vessel is scheduled to depart Nhava Sheva on June 7th and transit through the Suez Canal June 28th. Followed by other vessels transiting the Suez Canal as well.
Gemini Cooperation released a new transpacific service that will go from East Asia to the Port of Long Beach. Starting June 24th, the service starts from Xiamen to Busan to Long Beach and Back to Xiamen, according to a Hapag Lloyd press release.