This week, the Ports of Los Angeles and Long Beach prepare for record-breaking volumes as shippers reroute goods amid labor disputes and anticipated tariffs, while U.S. rail traffic sees a 4.8% year-over-year increase driven by intermodal growth. Britain officially joins the CPTPP, strengthening its post-Brexit trade ties in the Asia-Pacific, and Amazon faces its largest U.S. strike as Teamsters push for labor agreements across seven facilities. Meanwhile, concerns over a potential ILA strike escalate as experts highlight unresolved automation disputes ahead of the January contract deadline. Read the full articles below.
Weekly Freight Report: December 20, 2024
December 20th, 2024
Will the ILA Strike in January? Experts Weigh In
With the ILA contract set to expire in January, concerns over a potential strike are mounting as experts, including Vespucci Maritime’s Lars Jensen, discuss the sticking points in negotiations, the union’s stance on automation, and the broader geopolitical risks shippers may face in 2025.
China’s Slowdown Has Changed the Trade War
China’s economy, once a powerhouse, is now grappling with slowed growth, a shrinking share of global GDP, and lingering effects from a property market collapse and COVID-related disruptions, setting a new stage for trade relations as Donald Trump returns to office in 2025.
Weekly US Rail Traffic Continues to Gain
Weekly U.S. rail traffic continues to show year-end growth, with intermodal units driving a 4.8% increase for the week ending Dec. 14, despite ongoing declines in carload commodities such as coal and metallic ores, while North American rail volume posts a modest year-to-date gain of 2.2%.
After Mexico, Canada, and China, Trump Trains Tariff Gun on India
President-elect Donald Trump has shifted his tariff focus to India, criticizing its high import duties and vowing reciprocal taxes, a move that raises concerns for India’s export-reliant industries while trade experts speculate potential benefits amid shifting global trade dynamics.
Bustling California Ports to Close 2024 With Record Volumes
The Ports of Los Angeles and Long Beach are on track for record-breaking volumes in 2024, fueled by a surge in rerouted imports following East Coast labor disputes and a rush to beat potential Trump-era tariffs, marking a significant 19% year-over-year increase in container traffic at the Port of LA.
Britain Joins Trans-Pacific Pact in Biggest Post-Brexit Trade Deal
Britain officially joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), marking its largest post-Brexit trade deal, deepening economic ties in the Asia-Pacific region, and gaining strategic influence over future applicants like China and Taiwan.
Teamsters Say Amazon Workers Will Strike at Multiple Facilities as Union Seeks Labor Contract
Teamsters have launched the largest strike against Amazon in U.S. history, with workers at seven facilities protesting for a labor agreement, while Amazon denies the union’s claims of representation and disputes its role as an employer for many striking delivery drivers.
