In air freight, Fritos Air Index Trans-Pacific prices fell to US$5.67 per kg last week from highs of around US$7.00 per kg earlier in December as the peak aviation season closed, data shows. China – Prices in Europe fell to around US$4.25/kg after topping US$5.00/kg earlier in the month, and prices across the Atlantic fell to US$2.30/kg from an early December high of US$3.16 /kg.
Ocean rates outside Asia generally rose slightly through the end of the year, but as the Lunar New Year (LNY) approaches and a range of… GRIs for January Trans-Pacific container rates on these lanes have been put under upward pressure to start 2025. A seasonal decline in demand starting later in February should bring prices down on the former Asian corridors, although Red Sea transfers will keep them well above long-term averages just as they have been through 2024.
Demand ahead of Lunar New Year will combine with higher than normal volumes for this time of year in the US. and The decline in post-LNY volumes is also likely to be less pronounced than usual as many US shippers continue to front-load ahead of expected tariff increases, withHis withdrawal has already been reflected in the record November volumes In the port of Long Beach.
Since the start of the US-China trade war in 2017, Chinese imports to the US have declined while Mexican imports have increased. But at the same time, Chinese investment in and Trade with Mexico increased. Since Mexican tariffs are typically lower than U.S. duties, the United States-Mexico-Canada Agreement facilitates low-barrier trade between Mexico and the United States. Inmex programAllowing many US-bound imports to enter Mexico duty-free, many of these Chinese imports were arriving in Mexico as a conduit to the US market.
But last week, Mexican President Sheinbaum signed a law making just that High customs duties On clothing imports from countries including China up to 35 percent. The act will also basically Close Enmix For certain categories of textiles and apparel, presenting a challenge to importers who have relied on these methods to reduce their exposure to U.S. tariffs, including e-commerce sellers for whom the INMEX system has been central to their decisions to import through Mexico. In January, the government will also start Implement more stringent reporting requirements For B2C e-commerce imports.
In other recent developments related to the trade war, Panama refused President-elect Trump’s recent accusations of China exercising control over the Panama Canal.
Amount Its strength compared to last yearcombined with Red Sea-driven capacity reductions, has kept 2024 transatlantic container rates above the loss lows seen in 2023, with prices around the $2,500/FEU level since October. Despite a 10% drop in prices last week, carriers are advertising for January Additional disruption fees This corridor is in anticipation of a possible strike on the Israel Land Administration in the middle of the month. A prolonged strike could cause congestion and disruptions that could put additional upward pressure on East Coast corridors in January.
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