Continued Demand for Cargo Shipping: 10 Year High
Demand for shipping reaches historic highs. According to the IHS Purchasing Managers’ Index for the US, this has been the largest expansion of the manufacturing sector since 2007. Globally, manufacturing reached a 10 year high in March and global export orders rose to 53.4 in February.
New York, Los Angeles / Long Beach, Oakland and Seattle continue to see high levels of congestion at the terminals.
The influx of orders has not eased at all on the transatlantic; vessels are sailing completely full from all areas of Europe to North American ports and there is still a backlog.
Suspensions of the additional 25% tariff set to expire July 4th (UK) and July 11th (European Union) unless an agreement can be reached. NASA continues to work with industry organizations advocating for the removal of tariffs on industries not associated with the Boeing-Airbus trade dispute.
EU will not double tariffs on American Whiskeys on June 1st, 2021. Read USTR Press Release.
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