Trump’s China tariffs likely to boost container trade with Vietnam, Thailand, and South Korea

Posted on December 4, 2024   |  

Trump’s planned tariffs on Chinese products are expected to increase container imports from Vietnam, Thailand, and South Korea, which have grown significantly since 2017.

Vietnam’s container exports to the US surpassed 2 million TEU in the first 10 months of 2024, more than double the 2017 level, with a 41% rise in Q2 2024 compared to the same period last year.

The country’s educated workforce, low business costs, and improved US relations have made Vietnam a key alternative for manufacturing as supply chains shift from China.

Thailand’s exports to the US have tripled since 2017, reaching around 900,000 TEU in the first 10 months of 2024, driven by growth in farm and food products, including a 25% increase in October.

South Korea’s container exports to the US exceeded 1 million TEU between January and October 2024, up from around 600,000 TEU in 2017.

China’s share of US imports from Asia has decreased from 70.4% in 2017 to 58.9% in 2024, but it still remains the largest source of container imports.