Hapag-Lloyd Customers Cancel 30% of China's US Bound Shipments
Hapag-Lloyd customers have cancelled 30% of shipments to the United States from China, spooked by the trade conflict between the world's two largest economies, a spokesperson for the German container shipping group told Reuters on Wednesday.Instead, there has been a "massive increase" in demand for consignments from Thailand, Cambodia and Vietnam, the spokesperson added.Tariffs on goods from China introduced by U.S. President Donald Trump have triggered a trade conflict that has resulted in 145% U.S. duties on Chinese goods and 125% Chinese duties on U.S.
LPG Market Faces Shifts Amidst Trade War
The global liquefied petroleum gas (LPG) market is facing an upheaval as high tariffs on U.S. imports force Chinese buyers to swap American cargoes for alternatives from the Middle East, while U.S. shipments divert to Europe and elsewhere in Asia.The shakeup is expected to depress the shale gas byproducts' prices and demand, hurt the bottom lines of U.S. shale producers and Chinese petrochemical companies, and boost the appetite for alternatives such as naphtha.It is also expected to benefit Middle East suppliers…
China Hikes Tariffs for US Imports in Response to Trump’s Actions
Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to up-end global supply chains.China's retaliation intensified the economic turmoil unleashed by Trump's tariffs, with markets tumbling further and foreign leaders puzzling how to respond to the biggest disruption to the world trade order in decades."Recession risk is much…
