Imports at US’s major retail container ports will set record numbers this summer and fall, despite the fact that the debate over trade and tariffs continues in Washington, the monthly Global Port Tracker report by the National Retail Federation and Hackett Associates said.
The ports that the Global Port Tracker covered handled 1.63 million TEUs in April, the latest month for which numbers are available. A decrease of 5.8% from March and increase of 0.3% year-over-year. A TEU is one 20-foot-long cargo container or its equivalent.
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May handled 1.77 million TEUs, up 1.3%, while June is expected to handle 1.78 million TEU, up 3.7%; July will handle about 1.88 million TEU, 4.1% increase; August 1.91 million TEU, up 4%; September 1.83 million TEU, up 2.3%; and October 1.9 million, up 5.7%.
The first half of 2018 is expected to handle a total of 10.2 million TEU, up 3.8% over the first half of 2017. The total for 2017 was 20.5 million TEU, an increase of 7.6% from 2016.
NRF Vice President for Supply Chain and Customs Policy Jonathan Gold stated:
Consumers are buying more and that means retailers are importing more. 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.
See more information in the Global Port Tracker
