00:00In a race against time, some European companies are rushing to export their goods to the United
00:11States, fearing a further increase in American customs duties.
00:17Container exports via the port of Antwerp to the U.S. rose by 3% in the first quarter,
00:23compared with the first quarter of 2024. On closer examination, two of the sectors
00:28most affected by the U.S. tariff hikes saw their exports to the U.S. rise slightly.
00:34In the first quarter, European steel exports rose by 2% and vehicle exports by 1%,
00:40compared with the same period last year. Faced with Donald Trump's unpredictable changes,
00:45of course, European exporters seem to be sailing close to the wind.
00:49We see that some companies are anticipating on these tariffs and have decided to export
00:55their goods before the tariffs were imposed. But if we look in general from a port perspective,
01:04if we look at all the different segments and categories, that impact is rather limited.
01:08As Europe's second largest port after Rotterdam,
01:11Antwerp is one of Europe's gateways to and from the rest of the world.
01:15The United States is its second largest trading partner after the U.K.,
01:20with almost 28 million tons of goods traded last year.
01:25Port management is keeping a close eye on future developments in customs duties and geopolitical
01:30tensions, which could affect logistics chains.
01:33Well, currently it's a bit too soon to tell if the Chinese will use Europe as an export market
01:41instead of the U.S., but that's definitely something that we're monitoring,
01:44and it's definitely a possibility. We've seen that in the past that has happened.
01:49For its part, the World Trade Organization has reduced its outlook for world trade.
01:54It warns that the trade war between the U.S. and China is likely to slow trade and growth in the long term.
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