China To US Ocean Cargo Bookings Surge After Tariff Pause

• U.S. bookings for container transport from China to the United States spiked almost 300% in the wake of the United States and China pausing punishing tit-for-tat tariffs, container-tracking software provider Vizion said on Wednesday
• Average cargo bookings for the seven days ended Wednesday, May 14, soared 277% to 21,530 twenty-foot equivalent units (TEUs) from 5,709 TEUs for the average for the seven days that ended on May 5, said Ben Tracy, Vizion's vice president of strategic business development.
• U.S. importers slammed the brakes on shipments after April 2, when Trump announced plans to slap 145% tariffs on goods made in China. That trade restarted after the U.S. and China on Monday announced a 90-day thaw in their bruising trade war.
• The U.S. said it would reduce tariffs it imposed on Chinese imports in April to 30% from 145%, while China reduced duties on U.S. imports to 10% from 125%. The United States said it would reduce tariffs it imposed on Chinese imports in April to 30% from 145%, while China reduced duties on U.S. imports to 10% from 125%.
• German container shipping firm Hapag-Lloyd earlier said its bookings were up 50% for U.S.-China traffic week on week in the first few days of this week. CEO Rolf Habben Jansen told Reuters: "I expect that there will be additional volume between China and the U.S. That is what we have already seen in the last few days.

(Source: Reuters)