The world's biggest shipping company warns Trump's trade war will hurt America more than anyone else

Reuters

• CEO of Maersk, the world's largest shipping company, warns the impact of President Donald Trump's trade war will be bigger in the US than anywhere else.
• It could knock 4% off US trade annually, Soren Skou said at an event in Denmark.
• The impact would be particularly large if the US attempted to place tariffs on consumer goods coming from China.

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The CEO of AP Moller-Maersk, the world's biggest operator of container ships, has warned that President Donald Trump's trade war will ultimately be more harmful to the US than any other country.

Speaking at Maersk's global headquarters in Copenhagen, Denmark, Soren Skou said the US-led conflict, which has seen Washington and Beijing exchange numerous rounds of threats about tariffs, is likely to have the biggest downsides in the US, thanks to its outsized reliance on foreign-produced consumer goods.

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