How Trump could squeeze shipping firms impacted by Red Sea crisis
Xeneta, an ocean freight intelligence platform, warned Nov. 6 that shipping container rates grew by 70% during the last Trump administration.
A Donald Trump-led administration will drastically raise prices for container shipping companies, which have already seen prices skyrocket due to attacks by Yemen’s Houthi rebels on commercial vessels in the Red Sea, experts say.
Xeneta, an ocean freight intelligence platform, warned Nov. 6 — the day after the former Republican president’s decisive election victory against Vice President Kamala Harris — that shipping container rates grew by 70% during the last Trump administration from 2017 to 2021. The Red Sea crisis has already seen traders face huge price hikes, with fourfold increases in comparison with last year in some cases.
Trump has vowed to introduce blanket tariffs of up to 20% on all imports into America and additional tariffs of 60% to 100% on goods from China.
Surging freight rates
