Global trade is undergoing significant changes in response to shifts in American policy regarding increased import tariffs and the abandonment of preferential treatment for inexpensive goods. This analysis was presented by Raj Subramaniam, CEO of FedEx, referencing information published by Bloomberg.
Subramaniam predicts that these changes will affect the entire global freight system, which will gradually shift towards more regional models. He noted that "global supply chains are becoming increasingly localized," adding that a "new equilibrium" is forming in international trade.
In his opinion, these changes will be long-term, and the global industry will need time to adapt to the new logistics structure. "Returning to previous conditions will be difficult," he emphasized.
Previously, Ngozi Okonjo-Iweala, Chair of the World Trade Organization (WTO), noted that the effects of the tariffs initiated by former President Donald Trump will manifest gradually. She predicts that next year countries will begin to focus on regional and bilateral cooperation.
The International Monetary Fund (IMF) also warns that the most significant risk to the global economy could be a trade war between the US and China, which could lead to a 7% decrease in global GDP.
