Record Retail Imports Expected Summer and Fall Despite Tariffs Threat, Says NRF
Imports at major U.S. retail container ports are expected to set record volumes this summer and fall, despite the Trump administration’s threat to impose tariffs on $50 million worth of goods from China, said the National Retail Federation Thursday. “Consumers…
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are buying more and that means retailers are importing more,” said the NRF. “Imports continue to be the primary source of high-quality, mass-produced necessities at affordable prices and will be for the foreseeable future. If tariffs are imposed on consumer goods, that will only drive up prices for American families while doing little or nothing to punish those responsible for unfair trade practices.” The report estimates U.S. ports handled 1.63 million 20-foot-long cargo containers or their equivalents in April, which was down 5.8 percent sequentially from March and up 0.3 percent year-over-year. It estimates ports handled 1.77 million containers in May, up 1.3 percent year-over-year. It forecasts monthly year-over-year increases averaging nearly 4 percent from June through October.