Morgan Stanley downplays tariffs' impact on shipping

The immediate effect of higher US tariffs on imports of steel and aluminum looks set to be limited for shipping, projects Morgan Stanley. But Bimco anticipates problems for dry bulk in the future.

Photo: Carolyn Kaster

The higher tariffs on imports to the US, announced by President Donald Trump last week, will at first have a limited impact on shipping, notes Morgan Stanley in a new analysis of Trump's tariff move, which was met with strong criticism from the EU and China, among others.

"The announcement of the US to impose a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports is a unfortunate development for the global shipping industry. The direct impact, however, is very limited as seaborne shipments of these two dry bulk commodities have almost no effect on overall supply demand balance," writes Morgan Stanley.

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