Tariffs imposed on imports to the U.S. by the Trump administration have brought considerable uncertainty to global business operations and logistics, although China continues to be the most important market for global container shipping, according to Maximilian Rothkopf, Chief Operating Officer of German international container shipping giant Hapag-Lloyd AG.
Since the new U.S. administration took office, the negative impact of its tariff measures has exceeded market fears, creating challenges for the U.S. and the global economy.
"We just released our Q1 financial report, and the year started off well. However, there are simply too many uncertainties this year - tariff policies, geopolitical tensions — all of these have major impacts on our industry and the global economy as a whole. The level of uncertainty has clearly increased," said Rothkopf.
In 2024, Hapag-Lloyd signed supply contracts for 24 container vessels with two Chinese shipyards, based on a comprehensive assessment of quality, design, and cost, Rothkopf said.
He said that despite mounting international uncertainties, China remains the most important market in the global shipping sector.
"Last year, we placed 24 new vessel orders with two Chinese shipyards. We are very pleased with their quality, design, and availability. In recent weeks, we've all seen a sharp decline followed by a notable rebound in trans-Pacific shipping demand to the U.S. At the same time, we also witnessed that the shipping demand from China to Europe, Latin America, Africa, and other major global markets remains strong. China continues to serve as the most crucial market for international container shipping," Rothkopf said.
US tariff policy adds uncertainty, China remains pivotal to global shipping: Hapag-Lloyd COO
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
