Donald Trump’s Inauguration: Shipping Takeaways

Following the inauguration of Donald Trump as the 47th president of the United States, the shipping industry was quick to react to some of the bold statements made by the new leader. Trump wasted no time in setting his agenda, signing executive orders that could have significant implications for the maritime sector.

Wresting Back Control of the Panama Canal

One of the most surprising announcements made by Trump was his intention to take back control of the Panama Canal, falsely claiming that it was now operated by China. While China does not control the canal, Hutchison Ports, a company based in Hong Kong, manages ports near the canal’s entrances. In response to Trump’s statement, Panamanian authorities have initiated an audit of Hutchison Ports, reaffirming that the canal is and will remain Panamanian.

Renaming the Gulf of Mexico

Trump also made headlines by proposing to change the name of the Gulf of Mexico to the Gulf of America. This move, while symbolic, reflects the new administration’s focus on asserting American interests in various spheres, including geographical designations.

Exiting the Paris Agreement

Perhaps the most significant development for the shipping industry was Trump’s decision to withdraw the United States from the Paris climate agreement. This move raises concerns about the future of green discussions at the International Maritime Organization, particularly regarding the potential implementation of a global carbon levy on shipping scheduled for discussion in April.

Overall, Trump’s inauguration has set the stage for a new era in American politics, with far-reaching implications for the shipping industry. As stakeholders navigate these changes, it will be essential to monitor developments closely and adapt to the evolving landscape.