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Thousands of vehicles sit idle at EU port as Trump's tariffs leave their mark
Thousands of vehicles sit idle at EU port as Trump's tariffs leave their mark

The Guardian

time4 days ago

  • Automotive
  • The Guardian

Thousands of vehicles sit idle at EU port as Trump's tariffs leave their mark

The Port of Antwerp-Bruges has been turned into a giant car park with thousands of cars, vans, trucks and tractors bound for the US sitting idle as manufacturers try to avert the worst of Donald Trump's tariffs. Figures released by the port show a 15.9% drop in the transport of new passenger cars and vans to the US in the first six months of 2025 compared with the same period last year, with a sharp decline emerging in May – one month after the US president announced his 'liberation day' tariffs. Exports of trucks and what they call 'high and heavy equipment' is down by almost a third at 31.5%. This category includes tractors and construction vehicles, with the fall off in transatlantic movements perhaps reflecting the impact a 25% tariff would have on vehicles that can cost more than $100,000 (£74,430). The port is one of the world's largest car transport hubs, shipping more than 3m vehicles around the world in 2024. 'The outlook for the second half of the year remains uncertain. Much will depend on whether a trade agreement between the EU and the US can be reached by 1 August,' the port said in a statement. European carmakers from Volkswagen to Volvo had been hoping that a deal would have been sealed last week after Trump's original deadline for a tariff deal with the EU was due to expire. Before Trump arrived in the White House they paid a 2.5% tariff on exports but since April they are being charged an extra 25%, adding tens of thousands of dollars to the price of a family-sized car in the US. Ports across Europe have been tested by Brexit, the coronavirus pandemic, the port congestion caused by container shortages in 2024, with congestion a widespread issue across all northern ports, said Justin Atkin, the UK and Ireland port representative of the Port of Antwerp-Bruges. Compared with Brexit, the tariff impact has been 'more of an instant shock' he said. 'With the pandemic, we had lockdown, then we were out of lockdown, then back into lockdown, and people got used to managing it after being unprepared. Whereas here … people have talked about tariffs in the build up [to Trump] but I don't think anyone expected the level and the severity of the instantaneous action.' The port couldn't put a figure on the number of cars waiting to be transported but said it was in the thousands. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Atkin said there was also evidence of Chinese cars being stockpiled at the port, which may reflect a diversion of trade from the US with Beijing grappling with tariff barriers. Separately, disruptions in docking schedules caused by diversions due to the conflict in the Red Sea, and the increased size of ships in global fleets has meant containers are remaining at the port for up to eight days instead of the usual five. The US is the Port of Antwerp-Bruges's second-biggest trading partner after the UK and there is evidence that US exporters are also front-loading cargo to try to avoid any retaliatory tariffs that the EU may impose in the event of a trade war. In the first half of the year, inbound cargo from the US increased by 17% with higher volumes of liquefied natural gas.

Thousands of vehicles sit idle at EU port as Trump's tariffs leave their mark
Thousands of vehicles sit idle at EU port as Trump's tariffs leave their mark

The Guardian

time4 days ago

  • Automotive
  • The Guardian

Thousands of vehicles sit idle at EU port as Trump's tariffs leave their mark

The Port of Antwerp-Bruges has been turned into a giant car park with thousands of cars, vans, trucks and tractors bound for the US sitting idle as manufacturers try to avert the worst of Donald Trump's tariffs. Figures released by the port show a 15.9% drop in the transport of new passenger cars and vans to the US in the first six months of 2025 compared with the same period last year, with a sharp decline emerging in May – one month after the US president announced his 'liberation day' tariffs. Exports of trucks and what they call 'high and heavy equipment' is down by almost a third at 31.5%. This category includes tractors and construction vehicles, with the fall off in transatlantic movements perhaps reflecting the impact a 25% tariff would have on vehicles that can cost more than $100,000 (£74,430). The port is one of the world's largest car transport hubs, shipping more than 3m vehicles around the world in 2024. 'The outlook for the second half of the year remains uncertain. Much will depend on whether a trade agreement between the EU and the US can be reached by 1 August,' the port said in a statement. European carmakers from Volkswagen to Volvo had been hoping that a deal would have been sealed last week after Trump's original deadline for a tariff deal with the EU was due to expire. Before Trump arrived in the White House they paid a 2.5% tariff on exports but since April they are being charged an extra 25%, adding tens of thousands of dollars to the price of a family-sized car in the US. Ports across Europe have been tested by Brexit, the coronavirus pandemic, the port congestion caused by container shortages in 2024, with congestion a widespread issue across all northern ports, said Justin Atkin, the UK and Ireland port representative of the Port of Antwerp-Bruges. Compared with Brexit, the tariff impact has been 'more of an instant shock' he said. 'With the pandemic, we had lockdown, then we were out of lockdown, then back into lockdown, and people got used to managing it after being unprepared. Whereas here … people have talked about tariffs in the build up [to Trump] but I don't think anyone expected the level and the severity of the instantaneous action.' The port couldn't put a figure on the number of cars waiting to be transported but said it was in the thousands. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion Atkin said there was also evidence of Chinese cars being stockpiled at the port, which may reflect a diversion of trade from the US with Beijing grappling with tariff barriers. The tariff crisis combined with the conflict in the Red Sea and the increased size of ships in global fleets extending the docking time at the port to up to eight days instead of the usual five, has meant parking space for cars and containers is under pressure. The US is the Port of Antwerp-Bruges's second biggest trading partner after the UK and there is evidence that US exporters are also front-loading cargo to try to avoid any retaliatory tariffs the EU may impose in the event of a trade war. In the first half of the year, inbound cargo from the US increased by 17% with higher volumes of liquefied natural gas.

Indian trade delegation to visit Washington as India-US trade talks enter final stage: Govt sources
Indian trade delegation to visit Washington as India-US trade talks enter final stage: Govt sources

Times of Oman

time10-07-2025

  • Business
  • Times of Oman

Indian trade delegation to visit Washington as India-US trade talks enter final stage: Govt sources

New Delhi: India and the United States have stepped up their trade talks, with both sides actively engaging in virtual discussions. The government sources told ANI that an Indian trade delegation will revisit Washington DC soon for in-person negotiations aimed at finalising a trade deal. Sources familiar with the matter also said that besides in person meetings, Indian officials have also been engaged in several virtual meetings with their US counterparts in recent weeks. These meetings have helped set the stage for more detailed and comprehensive face-to-face talks. The upcoming visit by the Indian delegation is seen as a major step forward in advancing discussions on a possible trade agreement. The talks are focusing on both a broad-based trade agreement as well as targeted trade arrangements that could help resolve key issues between the two countries. The ongoing dialogue reflects a serious effort by both sides to deepen trade ties and reduce friction on trade-related matters. The discussions gained momentum after US President Donald Trump, who returned to office earlier this year, announced a tariff policy targeting countries with trade surpluses against the United States. India was among the countries likely to be affected by the proposed tariffs on exports to the US. However, the tariff implementation, initially planned for April, was paused for 90 days and later extended until August 1. This extension has provided both countries extra time to negotiate and try to reach on a mutually beneficial agreement. Officials said that the current round of discussions is critical, and the Indian delegation's visit could play a key role in finalising the deal before the extended deadline. Meanwhile the Donald Trump continues with his tariff policy as a tool to pressurize countries as on Wednesday, he announced a new list of tariffs targeting 14 countries. Products from Algeria, Libya, Iraq, and Sri Lanka will face a 30 per cent tariff, while Brunei and Moldova will see a 25 per cent tariff. Goods from the Philippines will attract a 20 per cent tariff. Brazil has been hit the hardest, with a steep 50 per cent punitive tariff, especially on copper. On July 8, Trump shared letters sent to Japan's Prime Minister Shigeru Ishiba and South Korea's President Lee Jae-myung, stating that both countries would face a 25 per cent tariff from August 1. He later confirmed that similar letters had been sent to Malaysia and Kazakhstan, which will also face 25 per cent tariffs. According to the letters, Myanmar and Laos will face a 40 per cent tariff, while Indonesia will be subject to a 32 per cent tariff. Imports from Thailand and Cambodia will be taxed at 36 per cent, and from Bangladesh and Serbia at 35 per cent. South Africa and Bosnia and Herzegovina will see 30 per cent tariffs, and Tunisia will face a 25 per cent rate.

Can India navigate US-China trade tensions to boost green economy growth?
Can India navigate US-China trade tensions to boost green economy growth?

South China Morning Post

time06-05-2025

  • Business
  • South China Morning Post

Can India navigate US-China trade tensions to boost green economy growth?

India is treading a fine line between China and the United States as it races to grow its green economy, with analysts warning that its reliance on Chinese inputs and shifting global trade rules could complicate its efforts to become a cleantech hub. Advertisement While recent US tariff moves may offer short-term gains for Indian exporters, New Delhi remains heavily reliant on China for critical components – particularly in the clean energy sector, where Beijing leads in both production and innovation, analysts have warned. 'It's not going to be easy for us to compete with China. For example, while headlines suggest that the US will now import more iPhones from India than from China, in reality, India is only assembling them. The components still come from China,' said Aruna Sharma, a former secretary in India's Ministry of Steel. Her comments came during a webinar held on Monday titled 'What does the global trade reshuffle mean for India's 2030 goals', where analysts examined how shifting global dynamics could affect India's economic strategy in the years ahead. India, Japan and South Korea are expected to be among the first few countries that the US could sign a trade agreement with, potentially helping them avert Washington's steep import tariffs on a range of countries that were announced last month. 01:00 Trump justifies 'China tariffs' as US effort to curb 'greatest job theft in the world' Trump justifies 'China tariffs' as US effort to curb 'greatest job theft in the world' The South Asian nation has an opportunity to ramp up its manufacturing industry including green industries, but it will need to introduce policies to support its small and medium-sized industries that form a bulk of its industry to fulfil India's ambitions over the long term, according to Sharma.

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