US Market
Port services company Cargo Handlers Limited, CHL, cited concerns over global trade tensions but remains positive about its financial outlook.
Executive Chairman Mark Hart, when asked to expand on the concerns, responded with a single word: “Trump.”
US President Donald Trump, who took up office on January 20, has threatened to impose tariffs on nations he considers unfair trade partners, sparking concerns of a global trade war. His proposed policies include a universal 10 per cent tariff on all imports and significantly higher duties on goods from countries like China. “I think it’s just uncertainty and potential trade disruption. But it is all left to be seen,” he said.
Critics warn that tariffs could disrupt global supply chains, increase consumer prices, and provoke retaliatory tariffs from affected nations. Data showed that consumer and business confidence increased in the fourth quarter, but slipped in the second and third quarters due to the passage of Hurricane Beryl, inflation, and crime concerns.
Hart added that confidence will fluctuate due to “prevailing external risks” that now include “changing trade policies” which are “triggering renewed global unease”. These events, he said, will influence shipping services into 2025.