CEO of Maersk Soren Skou has stated that the globe has seemingly survived the 2018 Trade War between China and the US unscathed.
Skou made the remarks recently, stating that imports do not seem to have been affected after a stalemate between Washington and Beijing led to a tit-for-tat response of levies on imports to the US and China.
Skou said: “It was very clear that U.S. imports from China rose significantly in the fourth quarter, while exports to China fell. So quite the opposite of what the U.S. administration had wanted.
“Container transport grew 4% in 2018, which is a bit more than growth in the global economy. So we can’t say we’ve seen any real negative impact from the row between the United States and China.
“For the trade war to have such an effect on global trade there would need to be serious deterioration in the relationship between China and the United States.”
Read more: Global Trade Jumps Despite Trade War