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Investing.com -- Danish shipping giant Maersk reported Wednesday that companies are currently paying effective U.S. import tariffs averaging 21% relative to container load, less than half the rate observed earlier this year.
According to Maersk’s regular global market update, the average effective tariff rate peaked at 54% shortly after April 2 when President Donald Trump announced sweeping tariffs against nearly all U.S. trading partners. The company bases its estimates on its container-weighted effective average tariff rate metric.
"The whole world is on tariff watch in July and August where various deadlines for potential trade deals with the U.S. expire," Maersk said. "The outcome of these negotiations will of course colour global trade and consumer sentiment in the months to come."
The shipping company reported robust container demand growth during the first half of the year. Maersk noted that customer behavior was largely anticipated, with many advancing their orders ahead of tariff announcements.
The Danish firm also observed that many of its large U.S. customers have reduced their import dependency on China in recent years. "Many apparel and fashion customers have now reached single-digit China dependency," the company stated.
Not all sectors have made similar adjustments, with Maersk adding that "other commodities like home improvements have a significantly higher level of Chinese manufacturing due to the nature of the goods."
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