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Giant shipping conglomerate, A.P. Moller Maersk has raised an issue about how a potential shift in U.S. policy might jeopardize global trade. The CFO of Maersk, Trond Westlie said, “In general, trade barriers weaken global growth. Low trade barriers not only help trade growth, but also economic growth. Trade barriers should be reduced as much as possible. That opinion stands whether we’re talking about Brexit or the US, but also for tariffs in Africa or South America, for example. So it counts for all countries, not just individual ones.” This statement comes at a time where Maersk reported a $1 billion loss in revenue year-over-year in the second quarter. Maersk’s loss in revenue is seen as a result of lowered freight rates and decreased oil prices and their struggle is felt industry wide. Hapag-Lloyd reported a $1billion loss year-over-year as well in Q2 and Hanjin shipping is worse off, needing to raise $1billion in a year or possibly face bankruptcy. Read more.

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