Trendwatch: Japan, South Korea face 25% tariffs as Trump ramps up trade war in letters to 14 nations; U.S. economic uncertainty fuels fluctuating freight demands; Heatwave dries up cargo capacity on Europe's largest rivers

Japan, South Korea face 25% tariffs as Trump ramps up trade war in letters to 14 nations

U.S. President Donald Trump on Monday ramped up his trade war telling 14 nations, from powerhouse suppliers such as Japan and South Korea to minor trade players, that they now face sharply higher tariffs from a new deadline of August 1.

The imposition of a levy of 25% on U.S. importers of all goods rattled Wall Street, with the S&P 500 Index (.SPX), opens new tab knocked back sharply, though markets in Asia were taking the news in their stride.

U.S. economic uncertainty fuels fluctuating freight demands

Tech.co’s 2025 Logistics Report has revealed that the majority (63%) of U.S. logistic businesses say economic conditions are the primary driver of changing freight demand.

A clear majority (63%) of respondents cite economic conditions as the primary driver of changing freight demand for their business.

Heatwave dries up cargo capacity on Europe's largest rivers

A summer heatwave has lowered water levels for crucial shipping lanes across Europe, driving up costs and stalling cargo moving through the Rhine and Danube rivers.

Reuters reports that temperatures peaked at 95 degrees Fahrenheit in Budapest, Hungary by the start of July, after the region received just 17% of its normal rainfall for the previous month, marking its driest June since 1901. The resulting low water levels mean that cargo ships transiting the Danube River have only been able to operate at 30-40% capacity, prompting ship operators to impose surcharges on cargo owners as high as 100% for vessels that aren't fully loaded.

Red Sea shipping crisis deteriorates rapidly as attacks intensify

The security situation in the Red Sea has taken a sharp turn for the worse over the past 48 hours, with back-to-back attacks on merchant vessels and Israeli airstrikes targeting multiple Yemeni ports.

Yesterday, the Liberian-flagged bulk carrier Eternity C, operated by Greek firm Cosmoship Management, came under a coordinated assault involving drones, speedboats, and small arms fire approximately 50 nautical miles southwest of Yemen’s Hodeidah. The vessel’s armed security team returned fire, but two crewmembers sustained severe injuries, and two others remain missing. The Eternity C was left adrift with its engines disabled and communications systems knocked offline after its bridge was struck.

Panama Canal highlights global impact and strategic vision at Xth International Financial Summit

Minister for Canal Affairs José Ramón Icaza presented an overview of the interoceanic passageway, the contributions the Panama Canal has afforded the country, and the key projects shaping the future of the waterway during his keynote address at the 10th International Financial Summit. His presentation entitled, “The Panama Canal: 25 Years Under Panamanian Administration and Its Global Impact,” offered a comprehensive look at the role the canal has played in global trade and national development.

German exports fall more than expected in May

German exports fell more than expected in May as demand from the United States decreased for the second consecutive month following a period of strong purchases in anticipation of U.S. tariffs, official data showed on Tuesday.

Exports fell by 1.4% in May compared with the previous month, data from the federal statistics office showed on Tuesday. The result compared with a 0.2% decrease forecast in a Reuters poll.

ASL Airlines Australia adds second 737-800BCF

ASL Airlines Australia expands with a second 737-800BCF, enhancing capacity and sustainability in Australasian air cargo. ASL Airlines Australia, the country’s leading independent charter and ACMI cargo airline, has announced the lease of its second Boeing 737-800 Boeing Converted Freighter (BCF), MSN 28595, marking another milestone in the airline’s rapid fleet expansion. The aircraft, originally delivered by Boeing in May 1999 and converted to a freighter in 2022, will undergo final modifications before joining ASL’s growing Australasian cargo network in late July 2025.