In a race against time, some European companies are rushing to export their goods to the United States, fearing a further increase in customs duties at the end of the current 90-day pause.
Others had anticipated the entry into force of the 10% surcharges and accelerated container shipments at the start of the year.
Container exports via the port of Antwerp to the United States rose by 3% in the first quarter, compared with the first quarter of 2024, according to a press release from the port of Antwerp-Bruges.
On closer examination, two of the sectors most affected by the increase in US customs duties saw their exports to the US rise slightly.
In the first quarter, European steel exports through the Belgian port rose by 2%, and vehicle exports by 1%, compared with the same period last year.
Faced with unpredictable changes of course from the US President, European exporters seem to be sailing on the wind.
“Some companies are anticipating these customs duties and have decided to export their products before they are imposed,” Lennart Verstappen, spokesman for the port of Antwerp-Bruges, told Euronews.
“But if we look in general from the point of view of the port, if we look at all the different segments and categories, this impact is rather limited”, he qualifies.
Gateway to Europe
As Europe’s second port after Rotterdam, Antwerp is one of Europe’s gateways to and from the rest of the world.
The United States is its second largest trading partner after the United Kingdom, with almost 28 million tonnes of goods traded last year.
At the Flemish port level, European exports to the US include cars, machinery, pharmaceuticals, chemicals, steel and food products.
Conversely, imports from the US include plastics, chemicals, cars, food and pharmaceuticals.
Port management is keeping a close eye on future developments linked to customs duties and geopolitical tensions, which could affect supply chains.
“At the moment, it’s a little too early to say whether the Chinese will use Europe as an export market instead of the US, but it’s certainly something we’re watching and it’s certainly a possibility. We’ve seen it happen in the past,” says Lennart Verstappen.
For its part, the World Trade Organisation has reduced its outlook for world trade. It warns that the trade war between the United States and China is likely to slow trade and growth in the long term.
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