Major Development | China's 10% tariffs on US goods officially take effect today! Shipping companies are raising prices one after another, and it's once again difficult to secure shipping space!

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2025-05-15 11:46

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Approved by the State Council, From 12:01 pm today (May 14th), China officially adjusted the tariffs on imported goods originating from the United States, reducing the original 34% to 10%, and suspending the implementation of the 24% additional tariff for 90 days. This measure quickly caused drastic changes in the shipping market— Various shipping companies announced price increases, and the scene of "one ship is hard to find" was once again staged.

Tariff Adjustment: A Major Turning Point in Economic and Trade Relations

　　This tariff adjustment is undoubtedly a key node in Sino-US economic and trade relations. After the high-level economic and trade talks between China and the US in Geneva, Switzerland from May 10th to 11th, Both sides reached a Joint Statement, pledging to take simultaneous tariff reduction measures.

Now, China has acted as promised. According to the "Announcement No. 4 of 2025 of the State Council Customs Tariff Commission," it not only significantly reduced the additional tariff rates but also stopped implementing the additional tariff measures stipulated in Announcements No. 5 and No. 6 of 2025, and simultaneously suspended or cancelled non-tariff countermeasures against the United States starting from April 2nd. This series of actions sends a positive and strong signal, aiming to push bilateral economic and trade relations back on track and inject a shot in the arm for global economic stability.

　　A spokesperson for the Ministry of Commerce pointed out that this adjustment follows the principle of "equality and mutual benefit," with both sides reducing tariffs by 91%, demonstrating equality. However, The 20% tariff additionally levied by the US side on the fentanyl issue remains, and China also retains non-tariff countermeasures against some goods. The next 90 days will be a crucial window period for both sides to further negotiate and promote continuous improvement in economic and trade relations.

Shipping Company Price Increases: A Direct Reflection of Market Reaction

　　After China announced the adjustment of additional tariffs on the US, the shipping market reacted quickly, Shipping companies have issued price increase notices one after another. The already turbulent shipping market in 2025, due to the US "equivalent tariff" policy, has experienced turmoil, and now the waves are rising again.

Hapag-Lloyd announced that, From May 12, 2025, the peak season surcharge (PSS) for 20-foot containers from East Asia to North America (US, Canada) will be US$1000, and US$2000 for 40-foot and high containers.

Maersk

: From May 22nd, the surcharge for large containers from Shanghai/Ningbo/Xiamen to the US will increase by US$1500.

ONE Shipping

: Launched a peak season surcharge (PSS) on May 21st, with an expected surge of US$2000 per large container.

Evergreen Marine

: From May 15th to 31st, the basic freight rate for the US West Coast will be adjusted to US$3100 per large container, an increase of US$700.

MSC Mediterranean Shipping Company

: From June 1st, the PSS surcharge at US West Coast ports may reach US$2000, and freight rates may return to US$6000 per large container.

COSCO SHIPPING, HMM, etc.

: Price increase of US$800-1000 from May 15th.

China's adjustment of tariffs on the US is an important step towards easing Sino-US economic and trade relations, but it has also triggered drastic fluctuations in the shipping market. In the next 90-day critical window period, further negotiations between China and the US will be closely watched. We expect both sides to promote continuous improvement in economic and trade relations through equal and mutually beneficial dialogue, contributing to the stable development of the global economy. For the shipping market, the price increase measures of various shipping companies also remind us that market changes are unpredictable, and enterprises need to constantly pay attention to policy dynamics and flexibly adjust their business strategies to cope with the ever-changing market environment.

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