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The U.S. president-elect plans to impose a 25% tariff on imports from Canada and Mexico starting January 20, 2025, and to increase tariffs on Chinese goods by 10%. Hellenic Shipping News These measures could significantly impact the dry bulk shipping industry. If U.S. importers seek alternative sources to avoid higher costs, trade routes may shift, leading to longer voyages and increased demand for dry bulk carriers.

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For instance, replacing Canadian fertilizer with imports from Russia or Israel would extend sailing distances, potentially benefiting the shipping sector. Conversely, absorbing the tariff costs without changing suppliers could maintain current trade patterns but increase import prices, adding inflationary pressures and influencing monetary policies.

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The U.S. dollar's strength may further complicate global trade dynamics, especially amid China's economic challenges. Overall, these tariffs are poised to reshape trade flows, with significant implications for the dry bulk shipping market.

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Sources: https://www.hellenicshippingnews.com/us-plans-major-trade-tariffs-potential-impacts-on-dry-bulk-and-shifting-trade-patterns/

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