Retail imports surged in November ahead of December tariffs
Nonetheless, the trade war is one of the factors impacting forward-looking models.
Volume at major container ports bumped up significantly in November, as retailers imported merchandise ahead of new tariffs set to take effect this month, according to the Global Port Tracker report released by the National Retail Federation, Washington, D.C., and Hackett Associates, Alexandria, Va.
“At this point, holiday merchandise is already in the country, so the direct impact of new tariffs won’t be seen until the season is over,” says Jonathan Gold, vice president of supply chain and customs policy for NRF. “Nonetheless, tariffs are bad for both consumer and business confidence, and we hope that the December tariffs will be canceled or postponed as a sign of good faith. We need a deal with China as soon as possible, so we can bring an end to the trade war that has put a drag on the U.S. economy for far too long.”