📌 Current U.S. Tariff Status (as of August 29, 2025)

• Digital Service Taxes Tariffs Threatened: On August 25, the U.S. administration announced plans for “substantial additional tariffs” on countries that continue imposing digital service taxes or restrictive regulations on American technology companies. These nations may also face restrictions on U.S. chip exports.

• China Magnet Duties Under Review: On August 25, the President suggested tariffs of up to 200% on Chinese-origin rare earth magnets if export volumes do not increase. China currently produces 90% of global supply, and the truce on U.S.–China tariffs is set to expire on November 10.

• Furniture Tariff Investigation: On August 22, a new probe was launched into imported furniture. The investigation will conclude within 50 days, though specific duty rates have not yet been announced.

• U.S.–EU Framework Trade Agreement: On August 21, the U.S. and EU announced a framework for a reciprocal trade deal. EU goods will face either the MFN rate or a 15% reciprocal duty, with exceptions for certain raw materials and pharmaceuticals. Tariffs on U.S. autos will drop from 27.5% to 15% once reciprocal reductions are made, and EU tariffs on U.S. industrial goods will be eliminated.

• Wind Turbine Components Investigation: On August 13, the U.S. Department of Commerce initiated a Section 232 investigation into wind turbines and parts, which may lead to new import duties.

• India Blanket Tariffs: Effective August 27, Indian-origin goods face an additional 25% tariff, raising effective duty rates to as high as 50%, depending on departure and arrival dates.

• De Minimis Exemption Expiration: Effective August 29, the $800 de minimis exemption expires for all trade partners. Low-value shipments will now be subject to standard duties by country of origin.

• Expanded Steel and Aluminum Duties: Last week, the U.S. broadened Section 232 coverage by adding 407 HTS codes for derivative products. This expansion now affects categories including packaged goods, industrial products, chemicals, energy components, and transport-related items.

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

Market Conditions

TPEB (Trans-Pacific Eastbound)

• Demand remains soft heading into Golden Week, with earlier tariff-driven pull-forwards muting current volumes. Rates are under pressure, with September GRIs announced but uncertain, and furniture tariffs could weigh further on demand.

FEWB (Far East Westbound)

• Rates continue to slide, with the SCFI dropping to $1,668/TEU. Despite upcoming blank sailings, early factory closures are keeping downward pressure on pricing.

TAWB (Trans-Atlantic Westbound)

• Demand is steady, with spot rates around $1,900–$2,000/FEU. PSSs have been deferred, keeping rate levels stable into September.

Operational Updates

TPEB:

• Equipment supply has improved slightly since July, though shortages persist for some carriers.

FEWB:

• Destination port congestion is causing extended transit times, though equipment supply at origins has normalized.

TAWB:

• Congestion remains heavy at Antwerp and Southern Europe hubs, with delays of several days. Equipment shortages persist in Central and Eastern Europe.

Capacity Management

TPEB:

• September capacity stands at 80–90% of normal, with space readily available as demand lags supply.

FEWB:

• Blank sailings in early September are set to cut weekly capacity by about 10%.

TAWB:

• Capacity remains stable, though space must be secured several weeks ahead due to strong demand.

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

Asia–Latin America Freight & Port Update

Port Operations

• Brazil (Santos, Paranaguá)

  • Santos terminals: yard utilization 75–77%, wait times up to 32 hours.

  • Paranaguá congested: 90% utilization, wait times up to 63 hours.

• Chile (San Antonio, Iquique)

  • San Antonio terminals closed due to heavy swell (until Aug 24); now reopened with delays of 6–48 hours.

  • Iquique Pier 3 remains restricted.

• Mexico (Manzanillo, Lázaro Cárdenas)

  • Manzanillo congested: 85% utilization, ~4-hour wait.

  • Lázaro Cárdenas: 70–80% utilization, delays of 2–9 hours.

• Peru (Callao)

  • Yard utilization 71%, with wait times 17–34 hours.

    Source: hapag-lloyd.com

Turkey Suspends Maritime and Air Links With Israel, Tightens Port Requirements

Officials announced measures halting trade with Israel, barring Israeli-linked ships from Turkish ports and prohibiting Turkish-flagged vessels from calling at Israeli ports. Authorities also outlined restrictions on aircraft entering Turkish airspace. Shipping agents have been asked to provide letters confirming vessels have no Israeli links and are not carrying military or hazardous cargo bound for the country. Plans for humanitarian airdrops to Gaza were noted, pending regional approvals.