International press reports have headlined US president Donald Trump starting his trade pact targeting with last week’s proposed withdrawal from the 12-member Trans-Pacific Partnership (TPP).
Along with that, Trump has threatened to impose punitive tariffs on Chinese imports.
Given that this could herald a full-scale trade war with China, there is no doubt that the fortunes of the shipping industry would face adverse conditions. Trade lanes could change, two-way east-west trade – the lifeblood of the global shipping industry – could falter, and protectionism could grow, leading to all sorts of operational levies or limits on the carriers.
Next in line, according to Trump, is the North American Free Trade Agreement (Nafta).
