Trans-Atlantic carriers are boosting total capacity from Europe to American by more than 10%. The US has imposed more than $7.5 billion in tariffs on goods from Europe, which can potentially threaten the almost 7% volume growth seen this year.
Trade Will Increase
North Europe and East Coast US trade capacity will increase over ten percent, while the Med-US East Coast trade capacity will increase by almost ten percent. This capacity increase will impact an already changing logistics industry. Rates have been growing year after year, with the future only looking brighter.
Tariffs Will Continue to Increase
The World Trade Organization (WTO) approved US tariffs that target a variety of goods from France, Spain, Germany, and the UK. They will include a 25% tariff on agricultural imports and a 10% tariff on aircraft and aerospace products. In turn, the European Commission will propose tariffs on $15 billion worth of American imports as retaliation.
Unclear Future Tariffs
While they wait for decisions from the current US presidential administration on whether tariffs on car imports from Europe will be increased, Germany is concerned. As Europe’s largest economy, the export of car parts is a staple of their trading money-makers. Raised tariffs could potentially affect many different facets of the car manufacturing industry. The first half of this year has shown that car imports from Northern Europe were up almost 7 percent from the first half of last year. Only time will tell if tariffs will affect these increases.
All Signs Point to Growth
The westbound leg of the trans-Atlantic is showing all signs of continued growth. The only thing threatening this progress is the unknown future of US tariffs.
Handling Growth, The Uneasiness of Tariffs, and More
It’s important to partner with an experienced logistics company to help you overcome challenges like these and many others. Contact All Points Container Line to start that partnership.