Trump effect on international shipping companies

Trump effect on international shipping companies
In spite of the polls and predictions, Donald Trump, was elected the next president of the USA, and the effect his presidency may have on international shipping companies is potential substantial.
 
During his acceptance speech, Trump said, “We will double our growth and have the strongest economy anywhere in the world….”
 
Whilst the majority believe the level of growth the president-elect pledges are simply not attainable, his emphasis on transforming the United State's trade deficit has remained evident during the course of his campaign. Donald Trump wants the USA to boost manufacturing and exportation greater than importation.
 
Continued current US import levels fails to be in the best interests of the United States in accordance to Trump. Throughout his campaign, he talked about imports tariffs and renegotiating trade deals, which has worried international shipping sector.
 
The concern of sluggish trade with USA is noticeable from the instant decrease in stock of  Moller-Maersk , the world’s biggest ocean transporter by capacity, following Trump’s election.
 
A reduction in USA based import & export movements might produce an additional obstacle for the shipping industry. Shares of Moller-Maersk who own the shipping company Maersk, fell on the CSE amongst concerns that "protectionism" might multiply. Economists say emerging protectionist plans in the USA may extend and reduce potential for a trade recovery.
 
The most self-evident effect on international shipping companies of potential plans such as increasing tariffs would directly impact importing costs. Although, most of Donald Trump’s discussion on tariffs fail to suggest blanket duty increases. The greatest tariff risks Trump has spoke of was to the USA, such as, manufacturers that relocate manufacturing outside of the US, especially car manufacturers that have relocated to Mexico. Furthermore the president-elect stated that, if China does not cease abusing trade rules, he'd raise tariffs on Chinese goods by up to 40%.
 
International shipping companies should however be encouraged in the following:
  • No president has ever before administered all the points vowed on their campaign trail.
  • Remember Donald Trump is a business man, not a politician, he's not about to stop all trade. 

 

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