The market welcomes the announcement made last Sunday by the Trump administration to delay any action on customs taxes until further notice. Even if anticipated, this news has clearly cooled things down for Trans-Pac ocean freight rates.
The year that just ended was full of challenges and uncertainties in both the political and economic realms. We are expecting 2019 to bring more clarity after a few months of blurriness. In 2019, politics seem to be becoming increasingly more important in determining the outcomes of international trade flows: this year will probably confirm that the trade game is played in the political arena as much as in the economic one.