U.S. container import volumes increased 4.7% year-on-year in February, but could cool in coming months as the U.S. trade war with China and other key trading partners takes hold, supply chain technology provider Descartes said on Monday.
U.S. seaports handled more than 2.2 million 20-foot equivalent units (TEUs), the second highest February volume on record, fueled by a 7.9% rise in volume from China, Descartes said.
Last year's robust import volume has flowed into 2025, fueled by resilient consumer spending and the front-loading of manufacturing parts and other goods ahead of expected tariffs on China, Mexico and Canada. The tariffs on China have a significant impact on ocean shipping since most of those goods come to the U.S. on ships. Goods from Mexico and Canada usually enter the U.S. by truck or train.
"Global trade conditions are clearly becoming more challenging with new and potential U.S. tariff changes amid escalating trade tensions with multiple countries," said Jackson Wood, Descartes' director of industry strategy.
U.S. President Donald Trump imposed 10% tariffs on Chinese goods last month and doubled them to 20% this month. Those levies are in addition to the up to 25% tariffs imposed on Chinese imports during Trump's first term.
Data from China showed that the country's exports unexpectedly lost momentum over the January-February period, as U.S. front-loading diminished and Chinese factories closed for the Lunar New Year festival.
China has retaliated with additional tariffs of 10%-15% on certain U.S. imports from March 10. It also raised complaints about the U.S. tariffs with the World Trade Organization.
Meanwhile, Trump plans to continue his trade war with countries around the globe.
In an address to Congress last week, Trump said further tariffs would follow on April 2, including "reciprocal tariffs" and non-tariff actions aimed at balancing out years of trade imbalances.
https://www.marinelink.com/news/container-volume-spikes-higher-advance-523305
|
Back:
Next:
