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US retail imports not hit by trade war threat: Port Tracker

Author: Posttime:2018-06-12 09:00:20

THE monthly Global Port Tracker report released by the National Retail Federation (NRF) and Hackett Associates shows that imports at major retail container ports in the US are expected to reach record highs despite threats of trade war and tariffs.

"Despite an environment that could lead to a trade war, we see imports continuing to grow," Hackett Associates Founder Ben Hackett said.
Ports covered by Global Port Tracker handled 1.63 million TEU in April, the latest month for which after-the-fact numbers are available. That was down 5.8 per cent from March and up 0.3 per cent year over year. 
May was estimated at 1.77 million TEU, up 1.3 per cent year over year. June is forecast at 1.78 million TEU, up 3.7 per cent; July at 1.88 million TEU, up 4.1 per cent; August at 1.91 million TEU, up four per cent; September at 1.83 million TEU, up 2.3 per cent; and October at 1.9 million TEU, up 5.7 per cent.
The numbers forecast for July, August and October would each beat the previous record of 1.83 million TEU imported during a single month, which was set in August 2017.
The first half of 2018 is expected to total 10.2 million TEU, an increase of 3.8 per cent over the first half of 2017. The total for 2017 was 20.5 million TEU, up 7.6 per cent from 2016's previous record of 19.1 million TEU, reports The Maritime Executive of Fort Lauderdale.
"Consumers are buying more, and that means retailers are importing more," said NRF vice president Jonathan Gold. "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."
Global Port Tracker covers Los Angeles, Long Beach, Oakland, Seattle and Tacoma, New York, New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville and Houston.
 
 
source:Schednet
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