This week, U.S. imports from China surged at the end of 2024 as shippers rushed to stockpile goods ahead of potential tariffs under President-elect Trump, with December container volumes increasing 14.5% year-over-year. A tentative ceasefire agreement between Hamas and Israel, set to begin Sunday, could ease Red Sea shipping tensions, though Houthi rebels in Yemen remain firm on their conditions for halting maritime attacks. Meanwhile, the U.S. expanded the Uyghur Forced Labor Prevention Act Entity List to include 39 new companies, marking the largest single expansion to date, and banning imports linked to forced labor in China’s Xinjiang region. The U.S. and Norway released the “NMPP Report,” addressing non-market practices disrupting critical mineral markets and emphasizing coordinated action to secure supply chains. In the air cargo industry, global capacity grew 10% in 2024, with passenger aircraft bellyhold capacity driving recovery and freighter utilization reaching a five-year high. Read the full articles below.
Weekly Freight Report: January 17, 2025
January 17th, 2025
Tariff jitters drive U.S. import rush from China
U.S. imports from China surged at the end of the year as companies stockpiled goods like apparel, electronics, and furniture ahead of potential tariffs under President-elect Trump, reflecting fears of revived trade tensions and escalating protectionism.
Shippers Face Short-Term Challenges After ILA, USMX’s ‘Last Minute’ Deal
Shippers rushed to mitigate potential East Coast and Gulf Coast port closures ahead of averted labor strikes, leading to front-loaded cargo, increased inventory, longer transit times, and elevated costs, with ripple effects expected across supply chains in the short term.
Report: U.S. Imports High Percentage of Goods Made With Forced Labor
A report commissioned by the U.S. Department of Homeland Security highlights the prevalence of forced labor in global supply chains, its impact on international trade, and recommendations for the U.S. to strengthen trade enforcement and eliminate goods made with forced labor, particularly from regions like China’s Xinjiang.
Gaza Ceasefire Deal Sparks Hope for Red Sea Shipping Security, but Houthis Maintain Hard Line
A potential ceasefire agreement between Hamas and Israel could ease Red Sea maritime tensions by reducing drone and missile attacks on vessels, but the shipping industry remains cautious as Houthi rebels in Yemen demand extensive conditions for halting their strikes on commercial ships.
Forced Labor Import Ban List Sees Biggest-Ever Expansion
Effective Jan. 15, the U.S. expanded the Uyghur Forced Labor Prevention Act Entity List to include 39 additional companies, banning goods linked to forced labor in China’s Xinjiang region, with the list now covering 144 entities across sectors such as apparel, electronics, and polysilicon production.
United States and Norway Unite for Greater Transparency in Critical Mineral Supply Chains
The U.S. Department of Commerce and Norway’s Ministry of Trade released the “NMPP Report,” highlighting how non-market policies disrupt global critical mineral markets and emphasizing the need for coordinated action to secure sustainable, market-driven supply chains for essential resources like rare earth elements and cobalt.
Global Air Cargo Capacity Continues Rapid Expansion
Global air cargo capacity grew by 10% in 2024, driven by a recovery in passenger aircraft bellyhold capacity, while freighter capacity remained steady, with cargo utilization reaching its highest level in five years.
