Page 5 - Demo

TheOrganisationforEconomicCooperationandDevelopment(OECD)hasreviseditsUSGDPforecastsdownfrom2.4%to2.2%for2025andfrom2.1%to1.6%for2026.GlobalGDPwasalsorevisedlower,from3.3%to3.1%in2025and3.3%to3.0%in2026.%u201cHighertradebarriersinseveralG20economiesandincreasedgeopoliticalandpolicyuncertainty[is]weighingoninvestmentandhouseholdspending,%u201dtheOECDsaid.TheEuropeanUnionannounceditwasdelayingitsretaliatorytariffsonUSgoodstoallowfor%u201cadditionaltimefordiscussionswiththeUSadministration,%u201ditwasnotseekingto%u201cdiminishtheimpactofourresponse,%u201ditsaid,%u201cinparticuarastheEUcontinuestoprepareforretaliationofupto26billionEUR%u201d.ReutersreportedCanadahasrequestedWTOdisputeconsutationswiththeUSoveritsimpositionofimportdutiesonsteeandaluminumproductsfromCanada.Thetariffs,launched12March2025,yieldedanimmediateresponsefromtheLiberalgovernment,whichslappedtariffsonUSimportsvaluedatneary30billionUSDon13March2025.TradeunionactionacrossmajorEuropeanports,particularlyinRotterdamandFrance,havecausedsignificantdisruptionstocontainershipping,exacerbatingexistingsupplychainchallenges.StrikesatRotterdam%u2019sDeltaIIterminalandongoingindustrialactionatFrenchportshavecreatedcongestion,deays,andlogisticalbottlenecks,promptingcarrierstoreroutevesselsandseekalternativesolutions.Drewryanticipateacontinuedgeneraldeclineingobalcontainerratesinthecomingweeks.Thisisattributedtoanexpectedincreaseincontainershippingcapacity,whichcouldfurthersoftenfreightratesacrossvariousroutes.Thatincludesnewvesselsenteringservice,andapossiblereturnbymajorcarrierstotheRedSeaandSuezCana.TheSuezcontinuestobethewildcardthatcouldcauseamarkeddecreaseinratesifareopeningweretooccur.https://wwwbertlingcom/news-pool/market/ocean-freght-market-report-march-2025/