Maersk Halifax on the route of Central and South America, a place in the Qingdao container terminal in Qingdao in Qingdao in the province of Shandong in China, November 10, 2024.
Nurphoto | Nurphoto | Getty images
As a result of the president Trump's tariffs on Mexico and CanadaGet ready for higher prices soon.
This is a message from the Maersk shipping giant Escalatory trade war between North American nations. While the White House claims that inflation is not a problem, Maersk's view on the American economy corresponds to the view of retailers and commercial groups that new tariffs on Mexico and Canada – and retaliation tariffs from these countries – are a threat to the US economy.
“The short-term effect of any tariff is clearly inflation,” said Charles van der Steene, president of North America for Maersk, the second largest carrier of the ocean freight in the world. “It is inflationary in its essence,” he said during an interview at the TPM conference at Long Beach, California, the annual convention for the logistics industry.
From retail sellers, including the goal – whom the general director said that prices may rise within a few days – To the main business lobby, such as the American Chamber of Commerce, which says that the tariffs “only raise prices”, inflation is expected throughout the entire supply chains and reaching the consumer.
At midnight, 25% Trump tariffs for goods from Mexico and Canada, plus 10% for Canadian energy products and an additional 10% for Chinese goods.
Once of day, Canada began its retaliation tariffs, and the Canadian Prime Minister Justin Trudeau said that within 21 days there will be a 25% tariff for over $ 100 billion in American goods. Mexico President Claudia Sheinbaum said that the retaliation tariffs would be announced on March 9. China has announced new tariffs on American goods, which will start on March 10.
As the global trade tariffs are added, Maersk expects that the inflation effect will remain in the period from half to long -term. But Van der Steene said that “the expectation is that the effect would eventually soften.”
In the long run, he said that there is more uncertainty about tariffs and repatriation of potential supply chains.
One sec The latest data from the surveyand comments from sellers such as the goal, they indicated weakening consumerVan der Steene said that the strength of the American consumer remains a silver lining among the trade war.
“We are still perceiving the American consumer and the American market, which is extremely resistant and strong,” said Van der Steene. “Consumer consumption was still strong, not only in the last quarter, but in the last six quarters. And it was a large engine behind the US economy. “
For example, more international retail sellers Arrival in the American market Due to the consumer's strength in relation to other markets.
In an interview with CNBC on Tuesday, the secretary of trade Howard Lutnick said that the tariffs are not inflationary and a clear reset in the field of trade policy with tariff policy from April 2.
At the weekend, the Secretary of Treasury Scott Bessent said that the tariffs would not raise inflation, partly because China will be “Eat all tariffs that are ongoing.”
“These countries will use and use us” Lutnick said on CNBC. “It will change. This is unbelievable in the way we are deceived all over the world, and Donald Trump will align, make it mutual and make him fair. “
On average The world puts tariffs more than twice as high Like those used by the US in terms of import, but wide comparisons ignore important details in trade relations: many countries apply much higher tariffs on products such as food, clothing, alcohol and tobacco to protect local industries or regulate consumption, with targeting tariffs emphasizing strategic commercial policies on global markets.
India, which have the highest average tariffs for American goods, were the beneficiary of producers expanding their abilities outside China, and this industrial migration attracted investments of companies, including Maersk, which recently announced plans to invest $ 5 billion in India, focusing on the end infrastructure and logistics.
Trump threatened the tariffs of India, as well as part of a wider plan of retaliation tariffs considered by the Trump administration.
Van der Steene said that although the tariffs on India can have a short -term effect, the final importance of India in a global supply chain from the point of view of production capacity and balanceing some of the ability from China, “is that we do not expect that this will have a longer impact on how the global supply chain and trade are created.
The trade war and tariffs were a source of fears for the maritime and transport sector, with the risk of withdrawing consumer consumption potentially translates into a fewer freighter orders, especially after charging by many shipping customers before the plans of the new administration tariff.