The Impact of the 2024 U.S. Election on China-U.S. Trade: How to Prepare for Rising Freight Costs
As we approach the 2024 U.S. presidential election, both candidates—Kamala Harris and Donald Trump—have taken a firm stance on U.S.-China trade relations. However, with Trump now appearing to have the election securely in hand, there’s a high likelihood that he will assume the presidency in January. If a new Trump administration takes office, we can expect a significant impact on freight costs for China-U.S. trade due to his strong policies on trade restrictions. This means major changes in trade policies are coming, especially in freight shipping between China and the U.S. A Surge in Trade Activity and Freight Costs: Why Now? Leading up to the inauguration in January 2025, U.S.-China trade is expected to see a considerable surge in volume as businesses look to secure shipments before potential new policies come into play. November, December, and January are anticipated to be particularly active months for trade. This heightened demand naturally puts pressure on freight rates, causing