It has been an eventful nine months in 2022 for the supply chain industry. Ocean freight rates reached unprecedented highs as supply chain disruptions continued to roil the industry. Prices are finally cooling down, but still continue to be very high and are nowhere close to the 2019 levels. Will ocean freight rates continue to soften or will it rise again? What will be the impact of a looming recession, the conflict in Europe and a new set of regulations that kicks in early next year to rein in carbon emissions from ships?

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.