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Trade tariffs ineffective as US container imbalance worsens

Posted on February 6, 2025 |

The US President canceled talks with China, and no new date has been set amid escalating trade tensions.

The US imposed a 10% tariff on all Chinese imports, and China will impose a 15% tariff on US LNG and coal, and a 10% tariff on oil, farm equipment, and large cars.

President Trump considered but later dropped tariffs on Colombia, Canada, and Mexico, only enforcing them on China.

In 2024, US imports of containers were 2.4 times higher than exports, showing that tariffs haven't reduced the trade imbalance.

From 2017 to 2024, US imports rose 24%, while exports dropped 8%, increasing the number of empty containers leaving the country by 54%.

The trade imbalance has grown, indicating that tariffs haven’t been effective in cutting the deficit with China.

Shipping firm Braemar suggested that China’s tariffs on US crude and coal will not impact global shipping distances.