Kuehne + Nagel International AG

KNIN: XSWX (CHE)
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Trump's Tariffs Hit the Value of DSV and Kuehne+Nagel Shares

US President Donald Trump imposed 25% tariffs on Canada and Mexico and 10% tariffs on China on Feb. 1, although he paused tariffs on Mexico on Feb. 3 following that country's agreement to cooperate on border security. This news and the expectation of a reduction in global trade sent the shares of global shippers and freight forwarders lower in early trading on Feb. 3. Shares of no-moat global shippers Maersk and Hapag-Lloyd were down 2% and shares of narrow-moat freight forwarders DSV and Kuehne+Nagel were down 2.5%, on average.

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