The trade relationship between China and the US has been deteriorating, a trend that began during the Trump administration and has continued under Biden. While the EU has been more cautious in its approach, its patience with China’s trade practices is wearing thin, leading to potential further strain in the trade relationship between China and the West.

An initial surge in freight prices — prompted by ships taking the much longer route around the Cape of Good Hope — petered out in March, yet prices have now surged even higher