Will the Panama Canal be Affected by the US-China Trade War?
- The Panama Canal is confident that it will maintain a “solid” performance despite a possible new trade war between the United States and China, resulting from the imposition of tariffs announced by US President-elect Donald Trump.
- “In the past, despite trade differences between the United States and China, the performance of the Panama Canal has remained solid,” the administration of the interoceanic waterway said on Thursday.
- Trump announced his intention to implement a 25% surcharge on all goods imported from Mexico and Canada, as well as an additional 10% tariff on Chinese products until these countries – which are his main trading partners – stop the arrival of illegal immigration and drugs.
- The Panama Canal is a major waterway through which about 3% of world trade passes. Its main customer is the United States, which accounts for two-thirds of the tonnage that passes through it, followed far behind by China and Japan.
- In fiscal year 2024, the Panamanian waterway, which links the Atlantic and Pacific, transported 423Mn tons and expects to increase that figure to 520Mn tons in 2025. International maritime trade will reach 12.29Bn tons in 2023, according to data from the United Nations Conference on Trade and Development (UNCTAD).
- The main routes served by the Panama Canal are the East Coast of the United States-Asia; the East Coast of the United States-West Coast of South America, and Europe-West Coast of South America. All types of cargo pass through it, from container ships, to refrigerated vessels with fruit, as well as bulk carriers, gas tankers, oil tankers and vehicle carriers.
(Source: Newsroom Panama)