📌 Current U.S. Tariff Status (as of February 13, 2026)

• EU–U.S. Trade Deal Moves Forward: On February 12, the European Parliament agreed to advance the EU–U.S. trade agreement, with a possible vote on February 24 and proposed review and sunset clauses tied to U.S. steel tariffs.

• First Sale Rule at Risk: On February 11, bipartisan legislation was introduced that would require import valuation based on the final sale before U.S. entry, effectively eliminating the First Sale rule.

• India Tariff Reduced to 25%: Effective February 7, the U.S. removed the additional 25% penalty tariff on Indian goods, returning the total rate to 25%, with a further reduction to 18% pending formal implementation.

• Iran-Related Tariff Authority Issued: On February 6, an executive order authorized potential tariffs on nations purchasing goods or services from Iran, with duty rates yet to be determined.

• Bangladesh Tariff Adjustment: Announced February 9, the U.S. will lower its reciprocal tariff on Bangladesh from 20% to 19%, with implementation timing still pending.

📢Check U.S. duty rates instantly with our Phoenix Tariff Calculator on 🔗 PHXio.

Source: whitehouse.gov, politico.com, whitehouse.gov

Ocean Trade Lane Snapshot

Ocean markets are transitioning into the Lunar New Year slowdown, with demand easing as factories close and carriers implementing significant blank sailings to manage capacity. On the Trans-Pacific eastbound, utilization has been cut sharply through late February, with capacity expected to rebound in March, potentially creating renewed oversupply if volumes do not recover at the same pace. Far East westbound carriers are removing substantial weekly capacity while congestion and extended dwell times continue at Singapore and major Northern European hubs, keeping effective supply tight even as spot rates soften. Trans-Atlantic westbound demand is gradually firming, supported by steady volumes, though inland equipment shortages across parts of Central and Southern Europe continue to cause minor delays while rates remain stable.

Air Freight Market Update

Asia airfreight conditions are mixed heading into Lunar New Year, with no broad peak surge across the region. North China volumes are steady overall, though U.S. Midwest and East Coast lanes are tightening, while South China is seeing typical last-minute movements before factory shutdowns and expected holiday flight cancellations. Taiwan and Korea report tightening Europe-bound capacity, and Southeast Asia remains generally stable with selective firming in India and Malaysia. Overall rates are stable to slightly higher on select lanes, and early booking is recommended to secure space through the holiday period.

Sources: xeneta.com, maersk.com, yangming.com, evergreen-line.com, supplychaindive.com

Asia–Latin America Freight & Port Update

1) Freight Rate & Capacity Snapshot

Carriers are attempting another rate increase on Asia–Latin America ocean services, with a planned basic freight uplift of about USD 1,000 per container effective March 1, 2026 (load date) across Asian export ports to West & East Coast South America, Central America, Mexico and Caribbean destinations.

Sources:cma-cgm.com

Container Spot Rates Keep Falling as Pre-Holiday Shipping Surge Stays Weak

Global container spot rates fell for a fifth straight week to about $1,933 per 40-foot container, with continued declines on major transpacific and Asia–Europe routes. Carriers have responded by canceling a high number of scheduled sailings in coming weeks. The supply picture remains mixed as some services begin returning to Red Sea/Suez routings while others continue Cape of Good Hope diversions. The Suez Canal Authorityexpects traffic to normalize in the second half of 2026.