Panama Channel: Trump customs duties have not slowed the transit of shipping ships so far

The director of the Panama channel reported on Thursday that the customs duties imposed by US President Donald Trump on dozens of countries have not yet affected the transit of container shipping ships.

Washington’s allies and opponents alike faced higher fees on their exports to the United States due to commercial practices that Trump considered unspecified.

Analysts expected this policy to slow the traffic in the Panama channel, through which about 5% of the total global shipping movement passes, according to Agence France Presse (AFP).

“The results of this fiscal year will be compatible with our expectations” in terms of revenues and goods, “channel manager Ricaarte Vasquez told AFP.

The Panama Channel Authority expected record revenues of $ 5.6 billion at the end of the fiscal year on September 30, an increase of 12.7% over last year.

It also expected 13900 ships to cross the channel carrying 520 million tons of goods during the same period.

But Vasquez indicated that it is “likely” that the volume of goods exports will decrease over time as a result of customs duties.

The 80 -kilometer channel serves and connects the Atlantic and calm surroundings, more than 1900 ports in 170 countries, and provides China, Japan and South Korea more to the eastern coast of the United States.

Earlier this week, China and the United States postponed a period of 90 days to start imposing new customs duties on their exports.