Retail Imports Slower but Still Robust in Anticipation of Higher Tariffs, Says NRF
Imports at major U.S. retail container ports slowed in September from their “pre-holiday peak,” but stayed at “unusually high levels” as retailers continue bringing in merchandise before the Trade Act Section 301 tariffs increase to 25 percent in January, said…
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the National Retail Federation Friday. Retailers know that tariffs “are set to more than double in just a few weeks,” said NRF. “If there are shipments that can be moved up, it makes sense to do that before the price goes up.” Imports customarily drop off “significantly by this time of year, but we’re still seeing numbers that could have set records in the past,” said NRF. U.S. retail ports handled 1.87 million 20-foot containers or their equivalents in September, down 1.3 percent sequentially from August, but up 4.6 percent year-over-year, it said.