Shipper Moller-Maersk on US-China tensions, threats to global trade


While the U.S. and China are negotiating a trade deal, the world’s biggest container shipping company is watching out for other problems between major economies.

One risk to import and export activity include the United States’ outstanding trade negotiations with the European Union. Another is the possibility of changes in the relationship between Europe and China, Soren Skou, chief executive of A.P. Moller-Maersk, said on Sunday.

“First of all, it’s pretty clear that the U.S. administration and EU have an outstanding discussion. It was kind of kicked to a corner last summer. While U.S. and China are negotiating, I’m sure that there’ll be a revival of discussions about car tariffs and what-not between the U.S. and Europe,” Skou told CNBC’s Eunice Yoon at the China Development Forum in Beijing.

In addition, “Europe wants to reshape the relationship with China, so there’s plenty of high level politics going on,” he added.

U.S. President Donald Trump threatened to impose tariffs of up to 25 percent on European cars and auto parts last year. But Trump reportedly promised European Commission President Jean-Claude Juncker that he would hold off on those tariffs for the time being.


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Post Author: Hunter Pena