Hamburg - Hapag-Lloyd reports slump in shipments
Hapag-Lloyd customers have cancelled 30 per cent of shipments from China to the US because they were spooked by the trade conflict between the world's two largest economies, a spokesman for the German container shipping group said. Instead, there has been a "massive increase" in demand for products and shipments from Thailand, Cambodia and Vietnam, the spokesperson added. The tariffs imposed by US President Donald Trump on goods from China have triggered a trade conflict that had led to 145% US tariffs on Chinese goods and 125% Chinese tariffs on US goods. It remains to be seen whether the tariff agreement between China and the US that has now been reached will...
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