Biden’s tariff move comes after his nation’s turbulent relationship with China has stabilized in recent months amid a flurry of diplomatic engagements.

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

With inflation and interest rates easing, manufacturing investment is on the rise. Several large manufacturers have said they plan to increase capital investments and merger and acquisition deal-making in 2024.

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.

The most crucial tool a supply chain manager can have to fend off UFLPA or other compliance risks is a transparent view of your suppliers’ critical relationships.

Maersk also says that vessels will likely continue rerouting around Africa's Cape of Good Hope "for the foreseeable future." 

When sanctions were placed on Russian oil sales following the war in Ukraine, the Laconian Gulf became a key spot for switching cargoes between vessels, prompting environmental concerns.

Although Houthis have regularly hit vessels in the southern Red Sea and Gulf of Aden since November 2023, there's little evidence they can do so beyond those waters.