Trade tensions will intensify following the US elections amid growing divergence between export flows from China and the US and Europe, according to the chief executive of container shipping group AP Møller-Maersk.
Vincent Clerc told the Financial Times that the world’s second-largest container shipping group had been boosted by strong export growth from China and south-east Asia, leading to the company raising full-year financial guidance for the fourth time this year. But, he said, exports from Europe and North America did “not show the same strength”.
He added: “We’ve seen for a few years an increase in trade tensions, and the root cause is these growing gaps in trade. Our expectation is that we will see more action on trade, and it is something we need to be prepared for.”