Uncover key insights and strategies to navigate the ongoing trade and cost challenges we face together.
Highlights from the Report:
- December saw the ISM® Prices Index rise, marking the third consecutive month of price increases for raw materials and 11 out of 12 months in 2024.
- Rubber futures continued their climb, surpassing 200 US cents per kilogram to reach their highest level since mid-December 2024.
- Global economic expansion accelerated in December, but manufacturing output contracted for the first time in three months due to weak demand and concerns over potential U.S. tariffs.
- 8 of the 9 industrial and materials sectors recorded lower output in December. The fastest growth was recorded in transportation.
- U.S. ports are projected to process 25.6 million TEUs in 2024, up 15.2% from 2023.
- Global ocean schedule reliability (measuring 60+ carriers) rose to 54.8%, the highest of the year.
- An agreement was reached between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) avoiding a potential strike at East and Gulf coast ports.
- Yemen’s Houthi rebels announced they will cease attacks on merchant shipping in the Red Sea. Ocean carriers are monitoring developments but no timeline for resuming regular schedules has been provided.
- President Trump stated he aims to impose a 25% tariff on Mexico and Canada by February 1st and mentioned that a 10% tariff on China is also being considered.
- What exact actions the administration will take remains unclear; theoretically tariffs can be imposed immediately, though past procedures have typically allowed up to 90 days’ notice.
Dive into these topics and more by reading the full report linked below.
📄 Report Length: 2,772 words
⏱ Estimated Reading Time: 8.5 minutes