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Freight Industry Insights November 2024

28-11-2024

Date

28th November 2024

Trump as we know, isn’t frightened of shaking things up in his quest to “Make America Great Again”. His victory was feared across Europe, particularly in the bigger flailing economies which are already struggling in the wake of micro-growth, tariffs and counter-tariffs on electric vehicle imports from China. EU relations with the US are at a all-time low and they have been strongly encouraged by the US to reconsider promised tariff increased on US produced steel in March 2025. The prospect of 20% tariffs on EU goods (and therefore falling demand) imported into America are very real.

In fact, the odds on tariffs for all goods imported into the US are high. Trump has promised a reduction in domestic taxes for individuals and businesses, and tariffs on imported goods is one way to pay for them. He’s also promising to deliver one of the world’s most competitive tax regimes which is designed to prevent US companies outsourcing production overseas and to persuade foreign manufacturers to move to the US.

However, Trumps second term also presents the UK with a golden opportunity to strike a trade deal with the US, if the UK can demonstrate it is open for business and trade at a time when much of the world, in particular the European Union and US, are looking inwards.


Our Operations Director, Vanessa Patel and I are attending the Import Export Show hosted by the Chartered Institute of Export and International Trade in London next week. We’re looking forward to hearing from trade experts, Government ministers, the Department for Business and Trade and those in the know on the matters mentioned above and others. We’ll be sure to bring any relevant information to you.

November has been an exciting time for change at Espace House too. We’ve now gone live with our new Transport Management System which will offer enhanced opportunities for us to communicate with you and an improved customer experience. We’ve also launched our very own 3PL service and have secured 30,000ft of warehousing space with racking for 2500 pallets in Birmingham and a full range of add-on services. If you have a need for warehousing – in Birmingham or regionally, pallet reworking or distribution please get in touch with us via 3PL@espaceglobalfreight.com


With the holiday season almost among us (some of my colleagues have already put up their Christmas trees!) just a quick reminder that as scheduled services start to come to a close during December, our express services will continue to run throughout the Christmas period.

See you in December.

Geoff

Visit the Espace Europe Ltd website for more information on Freight Industry Insights November 2024

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