Hapag-Lloyd CEO says Trump's election win is a mixed bag for shipping
Hapag-Lloyd's CEO said that Donald Trump's election as U.S. president sends mixed signals to global shipping. Positive macroeconomic effects could be offset by damaging tariffs.
When asked about the prospects of a Trump Administration, CEO Rolf Habben Jansen said, "On one hand, stocks have responded positively. This could be an indication that economic growth will increase in the future."
"But this is the discussion about tariffs which could slow down the world," he said. Trump made tariffs on imports an important part of his campaign.
Hapag-Lloyd, the world's fifth largest shipping company, is both a barometer of global economic health and a proxy of trade. (Reporting and editing by Miranda Murray, Elke Ahlswede, Vera Eckert)
(source: Reuters)