Trump tariffs will lead to higher freight costs, but it might not rise to levels seen during Covid: S&P Global

Rahul Kapoor, global head of shipping research at S&P Global Commodity Insights, says he expects to see a rise in freight rates, port congestion, and supply chain inefficiency as a result of US reciprocal tariffs and USTR port fees – however, the relatively lower demand support would prevent rates from reaching similar levels seen during Covid and the Red Sea crisis.