Trump tariffs bad for global economy and trade: Maersk

Copenhagen: Shipping company Maersk said on Thursday that the tariffs announced by US President Donald Trump on Wednesday amount to bad news for the global economy and trade stability.

Trump's move to slap a 10 per cent tariff on most goods imported to the United States, as well as much higher levies on dozens of rivals and allies alike, has intensified a global trade war that threatens to stoke inflation and stall growth.

"The tariff plan announced by the US administration was significant, and in its current form, it clearly isn't good news for (the) global economy, stability and trade," Maersk said in a written comment.

"It is still too early to say with any confidence how this will ultimately unfold." it added.

The world's second-largest container shipping firm said it expected customers to be more cautious about inventory levels while it also predicted a potential short-term surge in air freight orders into the U.S. before the tariffs take effect.