Reported 15 days ago
Freight rates are experiencing a spike as China retaliates against the US by imposing new port fees, which could significantly increase shipping costs for U.S.-related ships. Experts warn that these additional costs will ultimately be passed down to consumers, leading to higher prices on goods transported by sea, which constitutes 90% of global trade. The situation remains uncertain amid ongoing trade tensions and lack of clarity from both the US and Chinese governments.
Source: YAHOO