Shipping volumes slump amid conflicting tariffs signals from U.S. and China

Shipments from China to the U.S. have reportedly shrank substantially as Beijing continues to contradict the U.S. leader's claims that tariff talks with China are on track.

Moon Hye-ryeon has the latest.

The global container shipping industry is showing early signs of strain amid U.S.-China trade tensions.

According to the Wall Street Journal, Hapag-Lloyd – the world's fifth-largest shipping company – said bookings for U.S.-bound containers from China have dropped by nearly a third since the U.S. announced steep tariff hikes earlier this month.

In response, demand has surged for shipments from Southeast Asian countries, including Thailand and Cambodia, signaling that businesses are rerouting supply chains.

A company spokesperson said a substantial volume of cargo from China is being held back, and smaller vessels may be used due to the decline.

With the U.S. imposing a 10 percent blanket tariff on most partners and up to 145 percent on Chinese goods, some Chinese exporters have paused shipments altogether.

Meanwhile, U.S. President Donald Trump has continued to insist that negotiations with China are ongoing, claiming that he held trade talks on Thursday morning.

Speaking to reporters at the White House, Trump said that the contents of the trade talks may be revealed later, but did not elaborate further.

Trump had suggested the day before that the U.S. was "actively" negotiating with China, raising hopes that a deal to "substantially" lower tariffs on Chinese imports could be imminent.

However, Beijing dismissed Trump's claims of trade talks between the world's two largest economies.

According to the Chinese Foreign Ministry spokesperson, Trump's claims are "fake news."

"This is fake news. As far as I know, China and the United States have not held consultations or negotiations on the tariff issue, let alone reached an agreement. This tariff war was initiated by the United States, and China's attitude is consistent and clear. If you want to fight, we will fight to the end; if you want to talk, the door is open. Dialogue and negotiation must be equal, respectful, and mutually beneficial."

While Trump had told reporters that there were talks between the two countries, his treasury secretary, Scott Bessent, said no formal negotiations had taken place.

Moon Hye-ryeon, Arirang News.