Freightos Weekly Update: Asia – Med rates back to pre-peak levels as Red Sea transits increase

Trade talks continue between the US and China as representatives work to prepare the ground for the Xi – Trump meeting this week. The negotiations are reportedly aimed at maintaining stability in the fragile trade relationship, as opposed to pushing major policy shifts in either direction. Tariffs introduced by the US since the Supreme Court invalidated IEEPA restored duties on China to within 7. 5 percentage points of the level agreed upon between the sides last November, with the agreement set to expire this November. The USTR has reportedly concluded an additional Section 301 investigation, focused on issues of excess manufacturing capacity, and recommending an additional 7.