Maritime freight costs hit two-year high as tariffs loom over U.S. imports

Shipping costs for maritime freight have surged to a two-year high. Companies are rushing to deliver goods to the U.S. before new import tariffs take effect, pushing prices sharply upwards. The cost of transporting a 40-foot container from China to the U.S. East Coast jumped to $7,800 in a single week. This represents a 62% increase compared to a month ago. Rates from China to Mediterranean countries have also risen by 47%, reaching $6,400.

The Biden administration plans to impose new import tariffs on China, India, Japan, the UK, and EU member states, ranging from 10% to 12.5%. Uncertainty over these tariffs and fuel costs has prompted shippers to accelerate deliveries, particularly to the U.S. Demand for container shipping has surged as businesses stockpile goods ahead of the new charges.

The last time shipping rates reached such levels was in the summer of 2024. At that time, Houthi attacks in the Red Sea disrupted one of the world’s most critical trade routes. The sharp rise in shipping costs reflects the urgency among businesses to avoid higher import fees. The new tariffs are expected to take effect soon, further increasing pressure on global supply chains. Shipping rates may remain elevated as long as uncertainty persists.