After both China and the United States announced a mutual reduction in tariffs, there has been a surge in demand for American-bound shipments, leading to a "tight cargo space" on container ships traveling from Shanghai to the United States with orders booked up to June.
Chinese Foreign Ministry spokesperson, Mao Ning, responded on May 28 that, as the two largest economies globally, economic and trade cooperation has brought tangible benefits to businesses and consumers in both countries. Following the China-US trade talks in Geneva, there has been a sharp increase in orders from American buyers, causing a "tight cargo space" in the China-US shipping market, reflecting significant two-way demand between the two nations. Mao Ning stated that the essence of China-US economic and trade relations is mutual benefit and win-win cooperation, welcoming companies from all countries, including the United States, to operate and develop in China, deepen cooperation, create opportunities together, and share the future.
Loaded freighters departing from Shenzhen Yantian Port
The surge in loaded container ships from Shanghai to the United States is a result of the concentrated demand for American-bound shipments. American buyers have shown a strong willingness to increase inventory reserves, with many foreign trade companies securing new orders for the second half of the year.
In addition, Shenzhen Yantian Port handles over a quarter of China's exports to the US, and on May 14, all international freighters departing from Yantian Port to the US were fully loaded.
The China-US trade has entered a new phase of development
Recently, there have been signs of relaxation in China-US trade relations, with American customers expediting inventory processing and placing additional supplementary orders.
According to multiple industry insiders, the recent China-US "trade war" signifies a new phase in China-US trade, requiring a reshaping of trade, value, and supply chains. Xu Hongcai, deputy director of the China Association of Policy Science's Economic Policy Committee, stated, "The 90-day 'truce' is just a buffer period, and there remains significant uncertainty in future negotiations."
Xu emphasized that during this buffer period, it is crucial to address and improve the trade imbalance between China and the US. The directions for resolving the issues include: firstly, China should reduce its exports to the US, lessen its dependence on the American market, and achieve diversified and decentralized development; secondly, China should increase imports from the US, accelerate the expansion of domestic demand, and implement internal circulation strategies. Additionally, during negotiations with the US, efforts should be made to identify more mutually beneficial cooperation opportunities and prepare for long-term strategies to deal with the "trade war".
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