As we arrive into August, we have seen the EU and USA finalise a 15pct tariff deal. We still wait to see the USA and China come to an agreement on tariff levels by the 12th August, as they continue to negotiate, currently tariffs have been reduced to 30pct between the two trading parties. At the end of the day it’s very likely that any tariffs will be factored into the price charged to the end consumer, with reports that this is already happening in the USA. With the current tariff uncertainty still remaining rates have remained fairly flat across all trade lanes this week, any changes in rates we may start to see at the end of August as shippers will start gearing up for Q4. FBX01 (China/East Asia – USA West Coast) ended the week at $2,369/FEU, up $10/FEU from last Friday. FBX03 (China/East Asia – USA East Coast) ended the week at $3,705/FEU down $392 compared with same time last week. FBX11 (China/East Asia – North Europe) ended the week at $3,457/FEU down $8 on end of last week. FBX13 (China/East Asia – Mediterranean) ended the week at $3,206/FEU down $126 from last Friday.