Breaking: US Tariffs on Chinese Goods Soar to 145% - Shipments Plunge, Cargo Abandoned!
Publish Time: 2025-04-11 Origin: Site
Key Updates
New Tariff Rate: 145% (125% "reciprocal tariff" + 20% existing fentanyl-related duties)
Effective Immediately: Applies to all Chinese imports, retroactive to shipments not cleared by May 27.
Global Impact: US grants 90-day tariff pause for 75 trading partners (rate cut to 10%), but singles out China for maximum escalation.
Market Chaos:
Exporters halt shipments – Some abandon cargo mid-transit to avoid crippling costs.
Daily container volumes crash – From 40-50/FEU to 3-6/FEU for major Chinese exporters.
Southeast Asia freeze – Factories suspend orders from Philippines, Vietnam, Indonesia, Malaysia.
Industry Collapse: "Business Is Impossible"
Importers: "3Mingoods,3Mingoods,3M in tariffs – we can’t operate." Many refuse to pick up shipments.
Exporters: Forced to dump containers with carriers; tariffs erase all profit margins.
Carriers: Brace for massive rollovers and contract renegotiations as spot rates teeter.
China’s Retaliation
84% tariffs on US goods (effective April 10).
Official stance: "We will fight to the end" – Commerce Ministry vows "resolute measures" against US "bullying."
What’s Next?
Short-Term: More cargo abandonment, contract defaults.
Mid-Term: Carriers may blank sailings as USWC demand evaporates.
Long-Term: Global supply chains reconfigure to bypass US-China trade.
Quote:
"This isn’t a trade war—it’s a trade massacre."
— Hong Kong shipping executive
(Sources: White House briefings, SCMP, China Customs)