April 22, 2025
Affected by the Trump administration's tariff policy, the US import container market is showing a differentiation trend. In early April, US import bookings plummeted due to tariff uncertainty, but with the implementation of the 90-day global tariff "ceasefire", non-Chinese cargo bookings rebounded rapidly, and shipping companies expect future freight rates to rise. However, China's routes encountered a cold snap. Trump raised China's tariffs to 145%, and about 35%-40% of US-bound cargo was suspended. The freight rate from Shanghai to the West Coast/Eastern US fell by 4.5% year-on-year/slightly increased by 0.77%, and the SCFI index fell by 1.73% from the previous period.
In response to the tariff deadline (July 9), importers accelerated the customs clearance of non-Chinese goods, and shipping companies are adjusting their route layout and transferring some Chinese routes to other Asian countries. At the same time, Hapag-Lloyd announced that it would impose a peak season surcharge (PSS) on the East Asia to North America route from May 12, 2025, with a standard of US$1,000/TEU and US$2,000/FEU. Although Trump has hinted that he is willing to lower China's tariffs, he has not yet made a specific plan clear, and the recovery of freight rates on the US route remains uncertain.
