Donald Trump has been elected as the forty seventh President of the United States after securing victory over Vice President Kamala Harris.
Having won in the key swing states of Georgia, North Carolina, Wisconsin and Pennsylvania, Trump secured the 270 electoral votes wished to reach him to the White Dwelling.
Alongside Trump’s victory in the presidential contest, the Republican Party is projected to right a majority in the Dwelling of Representatives and the Senate.
Talking to supporters on election night, Trump called this a victory for “democracy” and “freedom,” promising to “liberate The usa’s horny destiny” and “keep basically the most amazing future for our people.”
READ MORE: How the US presidential election could well well moreover affect the logistics sector?
The US dollar surged as the election results turned constructive, with traders making a wager on Trump imposing tariffs on international imports to offer protection to home industries. On the opposite aspect of the world, stocks on the Hong Kong Stock Exchange fell over concerns Chinese items could well well be face a 60 percent tariff from the Trump administration.
If he goes thru with his thought, it could well well moreover elevate US tariff phases to 17.7 percent, basically the most attention-grabbing level since 1934, sparking fears of a worse rerun of the US-China exchange warfare that took situation in 2018/19, hurting US farmers and elevating costs.
In 2018, when tariffs were introduced, shippers of affected items began to pull their orders ahead. This resulted in an increased put aside a query to for ocean freight, increased freight rates, and a shift in the timing of these shipments. For instance, tariffs were introduced in July 2018, coinciding with peak season, which created an especially solid peak season for freight.
