Effect OF BIDEN’S BIG CHINA TARIFFS
According to observers, the obstacles in Singapore are the result of a number of factors, including the Red Sea’s diversions and the scrambling of Taiwanese exporters in the face of trade restrictions.  ,
Earlier this month, the United States announced that it will raise tariffs on US$ 18 billion worth of imports from China, targeting strategic sectors such as electric vehicles ( EVs ), batteries, steel and critical minerals.
According to the White House on May 14, the tariff rate on EVs will increase from 25 % to 50 % by the end of the year, while the one for semiconductors will increase from 25 % to 50 %.
Foreign producers are now in a frenzied bid to overcome the looming industry restraints.
Regular box charges in China, which were already on an upswing, have spiked even further by 88 per share in the last two decades.
Usually, these ships take roads like the Strait of Malacca, where they will port in Singapore.  ,
However, there is a lot of overcrowding because of the growing arteries. Now, it takes around seven times for each vehicle to get berthed, instead of one to two days earlier.
So far this quarter, Singapore’s interface has already received about 1, 000 boats, compared with only 639 in April.
According to Mr. Tan Hua Joo, a business analyst for container shipping at the data company Linerlytica, port congestion is at an all-time high.
” There is n’t a lot of spare capacity available to accommodate the increase in volumes”, he said.
” Port users will therefore need to factor in disruptions to their projections and actions of cargo in the coming months.”
Exporting nations are faced with a lack of ships and pot products because vessels stay at sea more for longer periods of time.