Thursday 18 October 2018
Contact US    |    Archive
egypttoday
3 months ago

Chinese imports to U.S. ports start peaking early amid tariff threat

LOS ANGELES - 15 July 2018: Chinese imports to U.S. ports rose more than expected in June, suggesting that some retailers moved up orders to insulate themselves from an intensifying trade war that threatens to send up costs on a growing number of consumer products.

Retailers such as Walmart Inc and Amazon.com face uncertainty due to U.S. President Donald Trump s threat to impose more tariffs on Chinese goods, and the jump in imports from the country was likely because of pre-emptive buying in anticipation of the tariffs , said Ben Hackett, founder of international maritime consultancy Hackett Associates.

This is a bump that isn t quite normal, he said.

The U.S. container port peak season is traditionally driven by orders for Chinese-made clothing, electronics and toys for the back-to-school season running from June to September, and then the winter holiday season.

The volume of loaded shipping containers from China to all U.S. ports was up 6.3 percent in June from a year earlier after falling 6.9 percent in May and 3.9 percent in April, said Gene Seroka, executive director of the Port of Los Angeles, the busiest U.S. container port and No. 1 hub for ocean trade with China.

Seroka s data was sourced from IHS Markit s PIERS and analyzed by Port of Los Angeles staff.

Data about specific products and buyers, which is compiled from paperwork filed when goods are delivered, was not immediately available.

China said on Friday exports unexpectedly accelerated in June. The commerce ministry confirmed that Chinese exporters were front-loading shipments to the United States to get ahead of expected tariffs.

Walmart, Amazon and other retailers declined to comment for this story.

Trump has vowed to reset the United States global trade agreements, which includes a threat to impose tariffs on more than $500 billion worth of Chinese goods. Retailers, who place orders for general merchandise up to a year in adv

Read on the original site


هذه الصفحة هي مجرد قاریء تلقائي للأخبار باستخدام خدمة الـ RSS و بأن نشر هذه الأخبار هنا لاتعني تأییدها علی الإطلاق.
Hashtags:   

Chinese

 | 

imports

 | 

ports

 | 

start

 | 

peaking

 | 

early

 | 

amid

 | 

tariff

 | 

threat

 | 
Most Popular (6 hours)

Most Popular (24 hours)

Most Popular (a week)