Retail Imports to Grow ‘Steadily’ Through Summer Despite Tariffs Threat, Says NRF
Imports at major U.S. retail container ports are expected to grow “steadily” throughout the summer despite the Trump administration’s threat to impose 25 percent tariffs on goods from China (see 1804040023), said the National Retail Federation Wednesday in its monthly…
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port-tracker report. “With proposed tariffs yet to be officially imposed, retailers are stocking up on merchandise that could soon cost considerably more,” said NRF. “If tariffs do take effect, there’s no quick or easy way to switch where these products come from.” U.S. ports handled 1.54 million 20-foot-long cargo containers or their equivalents in March, said NRF. Though that was down 8.6 percent from February and 0.7 percent lower year over year, April was estimated at 1.73 million containers, a 6.4 percent increase from the same month a year earlier. NRF also is forecasting monthly increases through September, including the possibility of record imports in July and August. The first half of 2018 is expected to total 10.4 million containers, an increase of 5.8 percent over the first half of 2017.