Daily Digital Magazine: Pg. 4 — May 9, 2019

Retail imports forecast to reach ‘unusually high levels’

The high import levels expected through the summer are driven by a rise in retail sales and plans to increase and broaden the tariffs against China.

   Imports at the United States’ major retail container ports are forecast to “see unusually high levels” through the summer and are projected to reach the highest level since last October in August, according to the Global Port Tracker report released Thursday by the National Retail Federation and Hackett Associates.
   The growth is due to the rise in retail sales and President Donald Trump’s plan to increase and broaden the tariffs against China. The Office of the U.S. Trade Representative announced Wednesday that 10% tariffs across $200 billion worth of goods from China in yearly import value will rise to 25% at 12:01 a.m. Friday. President Trump also mentioned that $325 billion worth of untaxed goods will “shortly” be tariffed at 25%.

Retail imports forecast to reach ‘unusually high levels’

The high import levels expected through the summer are driven by a rise in retail sales and plans to increase and broaden the tariffs against China.

Retail imports forecast to reach ‘unusually high levels’

The high import levels expected through the summer are driven by a rise in retail sales and plans to increase and broaden the tariffs against China.

 
Continued from previous page
   Imports at the United States’ major retail container ports are forecast to “see unusually high levels” through the summer and are projected to reach the highest level since last October in August, according to the Global Port Tracker report released Thursday by the National Retail Federation and Hackett Associates.
   The growth is due to the rise in retail sales and President Donald Trump’s plan to increase and broaden the tariffs against China. The Office of the U.S. Trade Representative announced Wednesday that 10% tariffs across $200 billion worth of goods from China in yearly import value will rise to 25% at 12:01 a.m. Friday. President Trump also mentioned that $325 billion worth of untaxed goods will “shortly” be tariffed at 25%.
   “Much of this is driven by consumer demand, but retailers are likely to resume stocking up merchandise before new tariffs can take effect,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said in a statement. “Tariff increases and new tariffs will mean higher costs for U.S. businesses, higher prices for American consumers and lost jobs for many American workers. We encourage the administration to stay focused on a trade agreement, and we hope the negotiations will get back on track. It would be unfortunate to undermine the progress that has been made with more tit-for-tat tariffs that only punish Americans.”
   U.S. ports covered by the Global Port Tracker handled 1.61 million TEUs in March, which is the latest month for which after-the-fact numbers are available. The number was up 4.4% year-over-year but down 0.6% from February.
   April was estimated at 1.76 million TEUs, which was a 7.7% year-over-year increase. The Global Port Tracker forecasts May at 1.9 million TEUs, a 4.2% growth; June at 1.92 million TEUs, a 3.7% increase; July at 1.96 million TEUs, up 3%; August at 1.98 million TEUs, a 4.6% growth; and September at 1.91 million TEUs, a 2% increase.
   Imports have never reached the 1.9 million TEU mark earlier than July, according to the statement.
   The Global Port Tracker covers the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle, Tacoma, New York/New Jersey, Virginia, Charleston, Savannah, Port Everglades, Miami, Jacksonville and Houston.   

We are seeing many more pricing requests for Southeast Asia and the Indian subcontinent. Few actually moved their supply chains outside of China because this will take time, especially for larger shippers. However, Taiwan and South Korea are in a unique situation: Some manufacturing had shifted to mainland China in the last decade due to lower costs, but that infrastructure is still in Taiwan and South Korea. Some manufacturing may temporarily shift back there until Southeast Asia infrastructure catches up. 

The Port of Zeebrugge is called by 12 liner services that also sail to regions outside North Europe, according to BlueWater Reporting’s Port Dashboard tool.

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Retail imports forecast to reach ‘unusually high levels’

The high import levels expected through the summer are driven by a rise in retail sales and plans to increase and broaden the tariffs against China.

May 09, 2019 on Dec 27, 2018AmericanShipper.com

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Retail imports forecast to reach ‘unusually high levels’

The high import levels expected through the summer are driven by a rise in retail sales and plans to increase and broaden the tariffs against China.

May 09, 2019 on Dec 27, 2018AmericanShipper.com