AP Moeller-Maersk A/S (www.maersk.com/en) — a Danish conglomerate that owns the largest container shipping company in the world — has expressed concern about a potential shift in US trade policy that could lead to a reduction in global trade. Chief financial officer Trond Westlie said that any steps towards protectionism would “clearly” hurt global economic growth.

Both US presidential candidates, Donald Trump and Hillary Clinton are viewed as “toughening their stance on globalisation”. Mrs Clinton has consistently criticised the Trans-Pacific Partnership Agreement for failing to do enough to support American jobs, while Mr Trump has gone so far as to call the pact a “disaster for the USA”.

Mr Westlie said: “In general, trade barriers weaken global growth. Low trade barriers help not only trade growth but also economic growth.”

Maersk transports about 15% of the manufactured goods that are sent around the world each year. Maersk Line lost $151 million in the second quarter of this year — having made a profit of $507 million a year earlier — as freight rates fell by 24%. Mr Westlie added: “Trade barriers should be reduced as much as possible.

“That opinion stands whether we’re talking about Brexit or the USA, but also for tariffs in Africa or South America, for example. So it counts for all countries, not just individual ones.”