Trendwatch: Houthis to cease attacks on non-Israeli shipping in Red Sea; Trump’s trade reset: No immediate tariffs, but global supply chains brace for impact; CBP’s proposed rule nixes de minimis treatment for array of imports

Houthis to cease attacks on non-Israeli shipping in Red Sea

Houthi communiques have confirmed that the group will cease attacks on most vessels in the Red Sea, continuing to target ships owned by Israeli companies or flying the Israeli flag.

The development defies what many expected from a group which, according to some estimates, has managed to extort more than $2bn in pay-offs from shipping lines since it began the attacks.

Trump’s trade reset: No immediate tariffs, but global supply chains brace for impact

Donald Trump will issue a broad trade memo on Monday that stops short of imposing new tariffs on his first day in office but directs federal agencies to evaluate U.S. trade relationships with China, Canada and Mexico, an incoming Trump administration official said, an unexpected development that triggered a dive in the dollar and a rally in global stocks.

President-elect Trump, who takes office at noon EST (1700 GMT), has promised to impose steep tariffs of 10% to 20% on global imports into the U.S., 60% on goods from China to help reduce the U.S. trade deficits that now top $1 trillion annually.

CBP’s proposed rule nixes de minimis treatment for array of imports

U.S. Customs and Border Protection outlined its plan to restrict de minimis treatment for low-cost imports subject to certain tariffs in proposed rule changes Tuesday.

If implemented, the changes would eliminate the ability for goods valued below $800 covered by Section 201, 232 and 301 tariffs to avoid import duties, a move that was a priority during the Biden-Harris administration.

High-value shipments at risk: The growing threat of strategic cargo theft

A steep rise in the number of ‘strategic thefts’ worldwide has cargo owners investigating ways to tighten supply-chain operations without interrupting the flow of trade.

In North America, overall cargo thefts rose a comparative 49% in the first half this year (2024) as increasingly tech-savvy thieves targeted warehouses and shipments moving by land. According to that account, the average loss per shipment grew 83% for the period (against 1H 2023), highlighting the growing ability of criminals to specifically target shipments of high-value goods.

India to shift focus to railways from road transport in infrastructure push, say sources

India will bump up spending on the modernization of its railways in the upcoming federal budget while marginally increasing allocations to road building, two government sources said.

Prime Minister Narendra Modi's government has ramped up infrastructure spending, particularly on the road network, since the pandemic to drive economic growth, but execution challenges could see the focus shift to the railways, the sources said.

Panama rejects Trump promise to take back Panama Canal

In his inauguration speech on Capitol Hill US President Trump repeated claims, he made last month that the Panama Canal was under the control of China.

“And above all, China is operating the Panama Canal. And we didn't give it to China, we gave it to Panama, and we're taking it back,” Trump stated.

The Panama Canal is administered by the Panamanian government through the Panama Canal Authority (ACP) and connects Asia to the East Coast of the Americas, having been originally constructed and controlled by the US when it opened in 1914.

South Korea moves to support export supply chains as tariffs loom

In preparation for the expected introduction of wide-ranging tariffs on goods imported into the US, the South Korean government has set aside $250bn to aid exporters.

The Ministry of Economy and Finance said the funds would be used for both supporting low-income families and the country’s exporters, the chief engine of its economy.

Cathay cargo carried up 12% in Dec on
e-commerce demand

Cathay Pacific carried 143,564 tonnes of cargo in December 2024, an increase of 11.7 percent compared with December 2023. The December 2024 cargo revenue tonne kilometres (RFTKs) increased 6.5 percent year on year, cargo load factor increased by 0.6 percentage points to 61.4 percent and available cargo tonne kilometres (AFTKs) increased by 5.5 percent year on year, says an official release.

Port of Long Beach Touts Record Year, Success of Green Port Policy

The Port of Long Beach’s CEO said the port is accomplishing environmental, operational and commercial goals set in 2005, and is now setting its sights on greater achievements in the years ahead.

During his annual State of the Port address January 16, CEO Mario Cordero said the port had a record-setting 2024, with 9.6 million cargo containers moved with zero disruptions or backlogs. Cordero also said Long Beach is making progress in transitioning operations to zero emissions, while marking dramatic air quality improvements and other environmental benefits throughout its 20 years as the Green Port.

Royal Air Maroc Cargo expands footprint in America with two new destinations: São Paulo and Toronto

As part of the extension of its international network, Royal Air Maroc Cargo, Africa’s leading cargo airline, announces the launch of its new routes to São Paulo (GRU) and Toronto (YYZ), marking a significant expansion of its operations across the Americas.

With flights having commenced in December to São Paulo and Toronto, this milestone reinforces Royal Air Maroc Cargo’s commitment to enhancing global connectivity through its strategic Casablanca hub (CMN). These destinations expand the airline’s network in the Americas which currently includes direct flights from Casablanca to Montreal, New York, Washington and Miami.