Since the U.S. raised levies on China to 145% in early April, cargo shipments have plummeted, perhaps by as much as 60%, according to one estimate.

China's leaders have shrugged off the potential impact from U.S. President Donald Trump's trade war, saying they have the tools needed to protect jobs and limit damage from higher tariffs on Chinese e

Donald Trump’s trade war with Beijing is starting to affect the wider US economy as container port operators and air freight managers report sharp declines in goods transported from China. Logistics groups said container bookings to the US have fallen sharply since the introduction of 145 per cent tariffs on Chinese imports to the US.

U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were under way and said he did not know if the U.S. president had talked to Chinese President Xi Jinping.