Also included in the new tariffs were ship-to-shore cranes (0% to 25%), solar cells (25% to 50%), and lithium ion EV batteries (7.5% to 25%). 

Allianz estimates that global trade will increase by 2.8% in 2024 — below the average of 5% — blaming that on disruptions brought on by the Red Sea crisis.

If approved, the measure would likely trigger contractual challenges for European logistics firms and political backlash from other gas-buying nations.

Carlos Sugich, partner at the law firm of Snell & Wilmer, discusses the factors that are causing manufacturers to nearshore production in Mexico.

According to S&P Global, seaborne containerized freight imports into the U.S. rose by 8% year-over-year in April.

Peloton says that, between 2020 and 2023, Flexport charged D&D and other related charges that were improperly invoiced by Flexport, in violation of the Shipping Act.

The move comes as cocoa futures surged to an all-time high in April, with a supply shortfall prompting prices to more than double in three months.

Descartes estimates that China was responsible for roughly 34% of U.S. container imports in April, primarily driven by "consumer-oriented" goods.

The report projects that the U.S. will grow its manufacturing share of advanced logic chips to 28% of global capacity by 2032.

Ex-Asia rates have increased by around $1,000/FEU since the end of April, climbing to $4,000/FEU for routes to the U.S. West Coast and Northern Europe.