“Things are so chaotic right now that anything announced today could well be cancelled or watered down tomorrow,” a shipping analyst remarked following the sweeping tariffs announced by US President Donald Trump on 2 April
Declaring a “national emergency” over the “lack of reciprocity in bilateral trade relationships,” President Trump unveiled tariffs of at least 10% on all imports, affecting around 60 nations. China faces a reciprocal 34% tariff, which, when added to the existing 20% levy, brings the total to 54%. The European Union will see a 20% tariff, among other affected economies.
Industry experts are scrambling to assess the potential impact across different shipping sectors, but the question of further retaliation looms. If tariffs are instituted as announced, container vessels and car carriers would be expected to take the hardest hit, experts say, while dry bulk shipping could see more moderate effects. But as the potential for further escalation and a global trade war grows, so does the potential for deeper changes to the shipping industry’s trading landscape.
“These tariffs challenge established trade flows, urging companies to reconsider their strategies as cargo volumes potentially divert to alternative routes or markets,” Optima Shipping Services head of market analysis and decarbonisation strategies Angelica Kemene told Riviera.
Container shipping giant Maersk cautioned that it is too early on to predict the impact of the unilateral US economic action or what the response might be from US trading partners affected by the tariffs.
“We need to see how countries will respond to these plans — and to what extent they choose to negotiate, impose counter-tariffs, adjust import duties, or pursue a combination of these measures,” Maersk said.
