French Shipping Giant CMA CGM Hails US-China Deal
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Rodolphe Saade, CEO of CMA CGM SA, hailed a truce in the trade war between Washington and Beijing.
鈥淔or CMA CGM, it鈥檚 good news,鈥 Saade said during a hearing in the French Senate on May 12. 鈥淲e鈥檝e lost 50% of our volumes toward the U.S. since the start of this crisis.鈥
The French shipping giant and rivals such as A.P. Moller-Maersk A/S are among companies that have been hit by President Donald Trump鈥檚 protectionist shift.
厂补补诲别听
The world鈥檚 two largest economies agreed on May 12 to temporarily lower tariffs and de-escalate the trade war. The three-month lowering of import duties will give the countries time to negotiate a broader agreement on trade.
CMA CGM ranks No. 7 on the Transport Topics Top 100 list of the world鈥檚 largest global freight companies. Maersk is No. 6 on the same list.
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