Importers are rushing to stockpile goods from China ahead of anticipated tariffs, leading to a surge in air cargo flights and a potential short-term export boom.
Anticipating that President-elect Donald Trump will fulfill his promise of a 25% tariff on all imports from Mexico and Canada and an additional 10% tariff on imports from China, importers are frontloading freight before the tariff wall takes effect in less than two months. Bloomberg reports that international cargo flights out of the world's second-largest economy are ramping up to new records in the weeks after the presidential election.
Mike Beckham, CEO of Simple Modern, which produces drinkware and other lifestyle production in Oklahoma, although it relies on components from China, warned there is a lot of tarrif 'uncertainty right now.' 'Some companies are attempting to ship as much as they can right now, but it has not been a major driver of strategy for the companies I am close with,' Beckham said.
China Exports Freight Frontloading Air Cargo Trade War Import Tariffs Supply Chain Disruption Global Trade Logistics Economic Impact
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