Tariffs Sparked ‘Unusually High’ Import Surge at US Container Ports, Says NRF
Imports at major U.S. retail container ports reached “unusually high numbers” just before the new 15 percent Section 301 tariffs on List 4A Chinese goods took effect Sept. 1, said the National Retail Federation Tuesday. Imports “are expected to surge…
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again” before the List 4B tariffs take effect Dec. 15, it said. “Retailers are still trying to minimize the impact of the trade war on consumers by bringing in as much merchandise as they can before each new round of tariffs takes effect and drives up prices." U.S. ports handled 1.96 million 20-foot-long cargo containers or their equivalents in July, the latest month for which actual numbers are available, said NRF. That was up 9.1 percent sequentially from June and a 2.9 percent increase from July 2018, it said. “Likely driven by the new tariffs” scheduled to take effect Dec. 15, November imports will reach 1.97 million containers, the highest monthly total since shipments topped 2 million last October, NRF forecasts.