The cost of transporting Chinese goods to the United States has risen sharply in a month. As companies rush to deliver ordered goods before they are hit by increased tariffs initiated by US President Donald Trump. This is reported by the Financial Times, writes UNN.
Details
Chinese exporters, manufacturers of goods from medicines to technological equipment, are already paying almost 40% more to ship goods to the United States than they were four weeks ago, the publication writes.
Some exporters are willing to pay extra for air freight before the latest series of tariffs from Trump come into effect in the coming days, freight carriers said.
But they added that the market is bracing for a "seismic shock" after Washington vowed to eliminate an exception that excludes small shipments from tariffs and strict customs inspections. This loophole in the rules has helped drive significant growth in demand for air freight from Chinese online stores in recent years.
iPhone could soar in price to $2300 due to Trump's tariffs - Reuters04.04.25, 11:55 • [views_11625]
According to the latest data from market tracker Xeneta, the average cost of air freight from China to the US has increased by 37% since the beginning of March to $4.14 per kg, after a steady decline from the peak Christmas shopping period.
The average cost of shipping goods by air from Europe to the US over the same period increased by 7 percent to $2.61.
Recall
US President Donald Trump said he was very pleased with the deployment of new tariffs and assured that markets would "thrive", despite the decline.