The delay in imposing tariffs on Mexican imports will do little to ease the pain for U.S. shippers, who still face a 10 percent tariff from China and a sharp increase in shipping container rates as a result of the conflict in the Red Sea.

The latest data from shipping and air freight intelligence platform Xeneta shows the average spot price from China to the West Coast of the United States is $4,816 per FEU (40-foot container) and the average spot price to the East Coast of the United States is $6,264 per FEU.

This represents an increase of 196% and 157% respectively since the escalation of the conflict in the Red Sea in December 2023, in addition to the imposition of tariffs on all Chinese imports that took effect on February 4.

"U.S. shippers are being buffeted by wave after wave of import disruptions and rising costs," said Peter Sand, principal analyst at Xeneta.

Already facing a sharp rise in shipping container rates as a result of the conflict in the Red Sea, they are now being hit by a 10 per cent increase in tariffs on Chinese imports.

"It's hard to see how a business could absorb those costs without raising prices for the final consumer." Given that more than 40 percent of U.S. containerized imports come directly from China, that means many businesses and consumers will be affected.

"The delay in tariffs on Mexico is good news, but it does nothing to allay fears of a renewed US-China trade war, which represents a whole different order of magnitude of risk."

There is little that shippers can do to counter the threat of tariffs, Sander added.

"When Trump announced tariffs on China in 2018, there was a period when shippers could rush in as many imports and build up inventory as they could before the tariffs went into effect," he said.

"This time Trump imposed tariffs almost immediately, so if shippers haven't acted by now, it's too late." Shippers may consider shifting their supply chains from China to countries such as India or Southeast Asia, but this will require time, financial investment, and a deep understanding of market data and intelligence.

"If container ships return to the Red Sea on a large scale and freight rates drop, then the ceasefire between Israel and Hamas will lead to better prospects for shippers in 2025." Trump's latest move quashes those hopes, as any gains shippers make by lowering freight rates will be offset by a 10 percent tariff increase.

"If China retaliates and the trade war escalates again, what is already a very bad situation for U.S. importers will get even worse."