Maersk CEO Vincent Clerc’s company reported strong results despite U.S. tariffs.

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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Maersk has raised its profit outlook in response to evolving global trade dynamics, which are being influenced by a new phase of globalization led by China and increasing protectionist policies, particularly from the United States. The company notes that while the U.S. is taking steps to bring manufacturing back domestically, global shipping volumes, especially from Asia, remain strong and resilient.

Maersk has diversified its business model over the past eight years, moving beyond shipping to offer broader logistics and supply chain solutions. The company anticipates that ongoing changes in global supply chains, such as near-shoring and re-shoring, will create both short-term growth opportunities and some volatility in its shipping operations. However, Maersk remains optimistic about its long-term prospects in the logistics sector.

Maersk raises profit outlook amid global trade war

In the rest of the world, we seem to have entered now a new phase of globalization pushed by China. And what is going to be interesting to see in the coming quarters or years is whether there is a response to that from some of the countries in terms of protectionism or whether this is going to continue and be a major trend for the industry for the years to come. So, it's interesting what you said about a new era of globalization. I think many people would be surprised to hear that. Do you see the U.S. playing any part of that? No, I think that the U.S. actually have taken the view that this second phase of globalization was happening and that in many sectors this was posing a danger to their ability to guarantee their national security, to have the amount of manufacturing and scale within the country and strategic independence that they have ambition to have. And you see this materializing into some of the trading policies and trading views that are coming from the United States. This has been a step actually to counter this new phase of globalization, whereas the rest of the world so far has mostly accepted it or had discussions which at least have not managed to either stem it or slow it down. To the contrary, we're seeing an incredible resilience in volumes out of Asia. It's been a trend for quite a while and as we are well into the third quarter, it just shows no signs of abating. So, I just want to come back to the issue around U.S. protectionism and the U.S. trying to bring manufacturing back to its own shores. We'll have seen this investment pledged by Apple in the past few days. Do you think that if the U.S. successfully brings back manufacturing into the U.S. that this is something that will help or harm you as a company? We look at the coming decades even assuming a rise of protectionism and a new different phase of trading order and so on as being a long-term opportunity for us. For almost eight years now, we have been diversifying away from purely a shipping play into a full logistics and supply chain play, which means that as the global supply chain gets rewritten or rejigged and rebuilt with a different structure with either near-shoring or French shoring or re-shoring or a combination of those, there's going to be a lot of need for a lot of companies for the type of solutions and products that we bring and it's going to be a vector of growth for us in the long run. It will create some volatility for our shipping business. There is no doubt about it because of these changes, but these changes will take time to materialize. Supply chains are long, they have many tiers of suppliers and to move all of this is likely to actually create more growth in the short term rather than shrinkage. And while this may come later on and create some turbulence, I think that in the short run we see a continued pretty strong growth opportunities and more opportunities for growth and creating value for our customers within the logistics field.

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Maersk raises profit outlook amid global trade war

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