UK’s Trade Deal with the US – What’s In It?
Following a major agreement with India, the UK also signed a limited trade deal with the United States last week. The announcement came after a disjointed conference call between the Prime Minister and US President, but the outcome marks a step forward in transatlantic trade ties. Core Tariffs Remain Intact Despite hopes for broader liberalisation, […]
UK and India Finalise Trade Deal After Three Years of Talks
The UK and India have concluded a landmark trade agreement following three years of negotiations, with both governments hailing it as a major step forward in boosting economic cooperation. Announced on Tuesday, the UK government stated that the deal is expected to increase bilateral trade by £25.5 billion annually, while also contributing £4.8 billion to […]
Tariff Cuts Set to Save UK Traders £17 Million Annually
The UK government has introduced a two-year suspension of import duties on 89 products, starting from 27 April 2025. The move is designed to support economic growth by lowering costs for businesses and consumers. The zero rating suspension covers a range of everyday items often in demand during the summer months, including: Pasta Fruit juice […]
US To Penalise Chinese Owned And Built Vessels
The US government confirmed last week that it will be introducing additional port fees for Chinese owned or built cargo ships arriving at its ports from October. The fees are aimed at bucking the current trend to use Chinese shipyards to build new container ships, with over 50% of new build orders being secured by […]
Declining Volumes And Blanked Sailings On Transpacific
Ocean freight volumes from Asia to the United States are unsurprisingly declining heavily, as the fallout from recent Trump tariff increases continues. Depending which report you read, China’s US-bound container bookings are down between 30% and 60%, with exports from other Asian countries falling by between 10%-20%. As a result, hundreds of advanced bookings have […]
Trump’s Tariffs Go Live But Rates Paused Except China
President Trump’s global tariffs went live yesterday, but rates above the 10% baseline have been paused for 90 days, except China. Chinese imports are currently levied at 125% after a tite-for-tat battle with the US in the past week, while China has an 84% tariff for American products as things stand. Trump argues that his […]
US Tariff: Potential £2bn Penalty For UK Car Industry
This week, President Trump announced an enormous 25% tariff on the import of cars, which could effectively mean a £2 billion penalty for the UK car industry. The tariff is effective almost immediately on car imports from all over the world, officially being introduced April 2nd. There will also be a 25% tariff on car […]
Hopes Of A Red Sea Shipping Return Vanish
Recent hopes that a return to the Suez Canal shipping route may be on the horizon have vanished, following the return to hostilities in the Middle East. After the Gaza ceasefire came to an end, the US launched air strikes on rebel targets in Yemen before Houthi Rebels carried out attacks on US warships in […]
Captain Arrested After Two Vessels Collide
After two vessels collided in the North Sea this week, off the coast of Hull, the captain of a containership has now been arrested by Humberside Police. One crew member seemingly lost their life when the containership ‘Solong’ crashed into the anchored ‘Stena Immaculate’ on Monday March 10th. Searches to find the merchant seaman […]
Trump Tariffs: The Current Position
It is now more than seven weeks into Trump’s second term in office and the position regarding US tariffs has certainly been moving fast. While the situation remains very fluid, the below summarises the current situation. Canada & Mexico 25% tariffs were announced for each country on 4th February, but within a couple of days […]
