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Executive Editor: Mark Szakonyi 202.872.1234, mark. szakonyi @ spglobal. com
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European Shipping and Trade Outlook: The Trans-Atlantic
September, 4, 2025, 10:00 AM EDT
The 15 % baseline tariff on EU exports to the US agreed upon in July between President Donald Trump and European Commission President Ursula von der Leyen should finally bring clarity to shippers on both sides of the Atlantic. The traditionally stable trade between Europe and the US has faced volatility in rates and demand for much of this year during increasingly fractious negotiations that saw threats of 30 % tariffs from Trump and Brussels preparing to launch its own wide-ranging retaliatory measures. Carmakers in Europe were hammered financially in the first half, halting US sales of some models that were not commercially viable at the tariff levels. Under the new trade agreement, car exports to the US that were taxed at 27.5 % will see tariffs reduced to 15 %, while US exports of cars to Europe will be duty-free. Tariffs on EU steel and aluminum and related products remain at 50 %. The EU appears to have come off second best in what is being described by analysts as an“ asymmetrical deal,” but at least it has averted a destructive trans-Atlantic trade war and allows shippers to get back to business. https:// bit. ly / 4lBtpgC
FEATURED CONTENT
Asia-Europe ocean rates edging down despite‘ robust’ bookings
The spot market on the Asia-Europe ocean trade continues to decline as carriers battle to overcome a growing capacity overhang despite reports of solid demand through the summer and ongoing port congestion in Europe. https:// bit. ly / 3Jr2g2I
OOCL
Midyear Trucking Report: The Second-Half Outlook
September 10, 2025, 2:00 PM, EDT
US truck shippers have enjoyed a historic stretch of pricing power since 2022 and the start of a threeyear freight downturn. Despite multiple predictions of its impending end, that downturn has dragged on well into 2025, as uncertainty over tariffs and trade and rising costs keep a lid on US economic growth. Is that about to change as 2025 draws to a close and 2026 begins? Shippers and trucking suppliers are looking for hard evidence of future demand. Will lower taxes and interest rate cuts make 2026 look more like 2018 than 2025? Will US manufacturing generate more demand for goods shipping? How are shippers and carriers thinking about the market as they approach talks for 2026 contracts? Do they foresee, finally, a significant change in the supply-demand equation for trucking? https:// bit. ly / 47CM9Ji
RESOURCES
Top 100 Importers and Exporters https:// bit. ly / 3ZvpUQG
Port of Virginia
US ports look to DOT to close big funding gap for project grants
US ports are asking to be included in funding as Congress starts its review of spending priorities for roads and rail, with a request that the amount of federal funding set aside for port infrastructure projects be more than quadrupled from its previous level. https:// bit. ly / 45Kh3gu
Managing Editor: Benjamin Meyer 916.716.6272, benjamin. meyer @ spglobal. com
Managing Editor: Kevin Saville, 212.488.4282, kevin. saville @ spglobal. com
Senior Editors: William B. Cassidy Trucking and Domestic Transportation 202.872.1228, bill. cassidy @ spglobal. com
Bill Mongelluzzo, West Coast 562.428.5999, bill. mongelluzzo @ spglobal. com
Eric Johnson, Technology 213.444.9326, eric. johnson @ spglobal. com
Janet Nodar, Breakbulk and Heavy Lift 251.408.2090, janet. nodar @ spglobal. com
Greg Knowler, Europe + 44.797.679.8770, greg. knowler @ spglobal. com
Ari Ashe, Southeast Ports, Intermodal Rail 202.548.7895, ari. ashe @ spglobal. com
Michael Angell, Northeast ports, 646.505.4712, michael. angell @ spglobal. com
Laura Robb, Associate Editor 281.216.0456, laura. robb @ spglobal. com
Carly Fields, Associate Editor, + 44( 0) 7966 210030, carly. fields @ spglobal. com
Senior Research Analyst, Project and Breakbulk Cargo: Susan Oatway, FICS, + 44.7930.411659 susan. oatway @ spglobal. com
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Journal of Commerce( USPS 279 – 060), ISSN 1530-7557, September 1, 2025, Volume 26, Issue No. 9. Journal of Commerce is published monthly( 12 issues a year) by JOC Group Inc., 55 Water St., 39th Floor, New York, N. Y. 10041. Subscription price: $ 595 a year. Periodicals postage paid at New York, N. Y., and additional mailing offices. © All rights reserved. No portion of this publication may be copied or reprinted without written permission from the publisher. POSTMASTER: Please send address changes to Journal of Commerce, Subscription Services Department, 55 Water St., 39th Floor, New York, N. Y. 10041.
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