Freightos Weekly Update: LA/LB strike deadline extended; Dem win increasing trade uncertainty

Last week’s US midterm election results saw Republicans lose control of both houses of Congress, raising questions about possible implications for trade and logistics.

On the one hand, the shift, reflecting voter concerns over inflation including from tariffs and energy prices, could mean the White House will seek to avoid introducing new tariffs and aim to deescalate the war in Iran in the hopes of bringing oil prices down. On the other hand, with President Trump likely to face difficulties passing new legislation, the election may embolden the president to focus and act on foreign and trade policy which is less easily influenced by Congress.

In recent months the administration has trended toward deescalation in trade relations with China. And post the election late last week, both sides officially extended the pause on reciprocal port call fees until January 10th, aligning with the extension of the other elements of the interim US-China agreement announced back in September. Presidents Trump and Xi will meet in China next week.

This year’s many trade war twists and turns may have helped drive the unusually early and then unusually long transpacific ocean peak season that has kept US container import volumes elevated since May.

This story was originally published by Container News. Read the full story at Container News →