Danish shipping giant Maersk stated in its latest Global Market Update released on Wednesday (July 2) that the current average effective tariff level for U.S. importers stands at around 21%, significantly lower than the temporary spike to 54% that occurred following the broad tariff hike announced in early April.

This estimate is based on Maersk’s calculation of the "container-weighted average effective tariff rate." The company noted that global financial markets experienced significant volatility after the U.S. announced new tariffs on nearly all trading partners on April 2, and that actual tariff costs surged sharply at that time.

However, with the U.S. implementing a 90-day deferral on the high tariffs in mid-April, the overall effective rate has since dropped considerably. Maersk noted that more than 12 major U.S. trading partners are actively negotiating with Washington in hopes of reaching agreements before the July 9 deadline, in order to avoid another round of tariff increases.

Maersk’s report stated:“The world is watching the trajectory of tariffs in July and August closely. This period will be a critical window for U.S. negotiations with other countries, potentially shaping the future of global trade and consumer confidence.”

The company also mentioned that overall container shipping demand remained strong in the first half of 2025, with some customers opting to ship early ahead of the tariff implementation—an indication of the market’s forward-looking adaptability.

Additionally, Maersk pointed out that an increasing number of major U.S. importers have reduced their reliance on Chinese imports in recent years.

“Many of our clients in the apparel and fashion sectors now have single-digit dependency on China,” the report noted. However, the company also acknowledged that certain goods, such as home improvement materials, still show high dependence on Chinese manufacturing due to the structural nature of their supply chains.