The strength of the US container cargo demand remains very much in evidence, with preliminary import volume data for May and June showing imports from Asia declining by only 5.6% in the last 2 months despite the severe disruption from the Trump tariffs. Although imports from China dropped by 24% yoy, volumes from all other Asian origins recorded positive gains, led by Vietnam and Indonesia which grew by 34% and 33% respectively.
The 20% tariff on Vietnamese imports announced last week will not