China now makes up a record 40% of all global container exports—and it’s a sign Trump’s tariffs meant to punish Chinese firms have fallen flat
Source: Fortune ·
“The tariff policies of the last two years have been an unmitigated disaster. They have made exactly what we're talking about worse for the United States.”
From the source
China keeps growing its share of global cargo sales, indicating the Trump administration’s tariffs meant to punish the country are instead an obstacle that China has successfully navigated. China now accounts for 40% of the world’s container exports on a rolling three-month basis, a 2.5% increase from nine months ago and its highest-ever levels, Jens Eskelund, president of the European Union Chamber of Commerce in China, told the Financial Times on Tuesday. For Europe, China’s swelling share of global shipments represents a growing trade imbalance between the continents, Eskelund warned. As more cheaper goods from China flood European markets, European manufacturers are squeezed out, and the continent loses out on global market share for exports and China sells its goods for cheap elsewhere. The U.S. is facing a similar fate, harkening back to the “China Shock” of the early 2000s, representing a surge of Chinese products on American shelves following its entry into the World Trade…