News

Mexico’s government approved new tariffs on a range of key Asian countries, including China, India, South Korea, Thailand, and Indonesia, with the changes set to take effect on January 1st, 2026.

The levies will apply to goods like metals, cars, clothing, and appliances. Mexico’s finance ministry estimates the new tariffs will raise nearly 52b pesos (USD $2.8b) in extra revenue next year.

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Yemen’s Houthi rebels signaled a halt to their attacks on commercial ships in the Red Sea following the tenuous ceasefire between Gaza and Israel. Officials at major shipping lines are actively discussing a return to the shipping lane, with some regional carriers already acting, but the future is still very uncertain.

“We are closely monitoring developments and declare that if the enemy resumes its aggression against Gaza, we will return to our military operations deep inside the Zionist entity [Israel], and we will reinstate the ban on Israeli navigation in the Red and Arabian Seas.” – Yusuf Hassan al-Madani, Houthi Armed Forces’ Chief of Staff

• The Houthis did observe a ceasefire at the start of 2025, but when hostilities resumed in Gaza, the Houthis also resumed their activities.
• CMA CGM and Maersk are both preparing for a return next month. “Given the significant progress on both fronts, Maersk will take steps to resume navigation and, over time normalize the transits on this route,” the company stated.

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Ship movements that once relied on Automatic Identification System (AIS) broadcasts and port reports can now be observed visually, continuously, and without a vessel’s cooperation via satellites—a quiet technological revolution that could greatly impact maritime operations. Enhanced Electro-Optical (EO) satellite imagery, long associated with military intelligence and environmental monitoring, has rapidly matured into a commercially accessible, high-resolution tool.  

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The Trump Administration announced framework agreements on reciprocal trade and investment with Argentina, Ecuador, El Salvador, and Guatemala.

The baseline tariff rate of 10% will remain in place on goods from Argentina, El Salvador, and Guatemala, and a 15% tariff rate will remain in place on Ecuador. The frameworks will allow for tariffs to be lowered or dropped on certain goods, such as bananas, coffee, and cocoa.

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Strong Transpacific traffic, labor strikes, equipment shortages, and other critical issues continue to plague key European ports. 

Major container terminals, such as Antwerp-Bruges (Belgium), Le Havre (France), and Rotterdam (Netherlands), are experiencing congestion, high yard utilization, and extended wait times.

Terminal Operations Updates

The United States and China reached a consensus agreement that will lower tariffs on imports from China to 10%, down from 20%, effective immediately. A variety of Section 301 and Section 232 tariffs remain in place, and goods from China will still face a duty burden of roughly 47%, according to U.S. Trade Representative Jamieson Greer.

China’s Ministry of Commerce also confirmed the U.S. would further extend its pause on reciprocal tariffs for another year.

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