Osama Rabie, Chairman of the Suez Canal Authority, stated that the tariffs recently imposed by the United States on China could affect global trade and, consequently, the Suez Canal.
Rabie added, during a press conference on Thursday, that Chinese goods constitute a significant portion of the Suez Canal’s trade traffic, and imposing tariffs on them will impact crossing rates through the canal.
He clarified that the effects are not yet noticeable, given China’s reciprocal imposition of increased tariffs on American goods. Rabie indicated that the Suez Canal Authority is closely monitoring these developments, expecting a slowdown in these decisions in the coming period.
He pointed out that the Suez Canal is affected by current political situations, both regionally and globally, adding that the situation in the Red Sea and Bab al-Mandab has cost the canal losses exceeding $7 billion last year, despite the Suez Canal being approximately 1,200 miles away from that region.
He emphasized that the canal is a global maritime trade route, insulated from any political or military crises, but ultimately affected by its geographical location and the surrounding regional conflicts. He noted that the most recent threat to maritime traffic in the Red Sea was in December, but it is impossible to definitively rule out future threats.
Rabie predicted a gradual improvement in Suez Canal traffic until next June, with all shipping agencies resuming their passage through the Red Sea and Suez Canal by the end of 2025, provided that Houthi attacks cease completely.
He mentioned that Suez Canal traffic witnessed an improvement in March, with the daily average of passing ships rising from 30 to 42 ships per day, followed by an increase in revenue of approximately $335 million in March, an 8.8% increase compared to January of the same year.
This increase coincided with the cessation of hostilities in the Gaza Strip after Hamas and Israel reached a ceasefire agreement signed on January 19th, before Israel resumed its war on the Strip on March 18th.
How will Trump’s tariffs impact the Suez Canal? Egypt Independent.
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