The global freight market reacted cautiously in early November 2025 to the newly announced trade agreement between U.S. President Donald J. Trump and Chinese President Xi Jinping. The White House fact sheet outlined that China would suspend several retaliatory tariffs, broaden access for U.S. agricultural exports, including significant purchases of soybeans, among others, and ease export restrictions on critical minerals. The United States, in return, will lower certain tariffs by 10 percentage points and suspend for 12 months several maritime and logistics-related measures. This reciprocal move was widely viewed as an attempt to stabilise trade relations and support supply chain normalisation following months of volatility.
The global freight market reacted cautiously in early November 2025 to the newly announced trade agreement between U.S. President Donald J. Trump and Chinese President Xi Jinping. The White House fact sheet outlined that China would suspend several retaliatory tariffs, broaden access for U.S. agricultural exports, including significant purchases of soybeans, among others, and ease export restrictions on critical minerals. The United States, in return, will lower certain tariffs by 10 percentage points and suspend for 12 months several maritime and logistics-related measures. This reciprocal move was widely viewed as an attempt to stabilise trade relations and support supply chain normalisation following months of volatility.
In exchange, the US will suspend a number of marine and logistics-related policies for a full year and reduce some tariffs by ten percentage points. After months of turbulence, this reciprocal action was largely seen as an effort to help supply chain normalization and stabilize trade ties.
Despite the optimistic tone of the agreement, freight market data from early November shows muted enthusiasm. Spot container rates on Asia–U.S. West Coast routes have remained near the USD 2,200 per FEU mark, while East Coast routes have shown minor upticks to around USD 3,400 per FEU. But these movements are not being interpreted as evidence of a sustainable recovery. Two-thirds of Chinese exports to the US remain subject to tariffs as high as 25%, and that serves to moderate trade flows and limits any near-term surge in freight volumes.
Operationally, carriers are maintaining a cautious stance. Several shipping lines are extending blank sailings into mid-November to preserve vessel utilization levels. The one-year suspension of port fees between the U.S. and China, set to begin on November 10, provides partial relief from added operational costs that had weighed on profitability since October. The truce also signals a temporary easing of the tit-for-tat policy cycle, giving carriers more certainty for network planning.
Commencing on November 10, the one-year suspension of port fees between the United States and China offers some respite from increased operational expenses that have hampered profitability since October. Additionally, the truce indicates a temporary relaxation of the cycle of tit-for-tat policies, providing carriers with greater assurance for network planning.
A major provision in the trade accord includes China’s pledge to purchase at least 12 million metric tons of U.S. soybeans before the end of 2025 and a minimum of 25 million metric tons annually through 2028. While this commitment is expected to lift agricultural export volumes through U.S. Gulf and West Coast ports, its impact on containerized trade remains uncertain as most agricultural exports move via bulk carriers rather than containers.
The freight market is expected to be moderately stable but far from sharply improving in the next few weeks. The easing of port fees and tariff cuts will aid carriers in managing costs but will not by itself boost cargo demand. Persistent inventory overhang in the U.S., cautious import strategies, and slow retail restocking will likely hold shipment growth through year-end in check. Carriers that continue to manage capacity effectively, maintain schedule reliability, and offer customer-specific pricing flexibility will be best positioned to navigate the low-demand environment. This is likely to continue until there is a broader recovery in demand and economic sentiment, rather than as a result of policy changes.
Carriers will be in the greatest position to handle the low-demand scenario if they continue to successfully manage capacity, ensure schedule dependability, and provide customer-specific pricing flexibility. Rather than as a result of policy adjustments, this is likely to persist until there is a more widespread recovery in demand and economic mood.
