Retail Imports Still High as Possible Tariff Hike Looms March 2, Says NRF

Imports at major U.S. retail container ports are down from their peaks of last fall but remain at “higher-than-usual levels” as retailers try to beat a possible March 2 hike in the 10 percent Section 301 tariffs on $200 billion worth of Chinese goods, said the National Retail Federation Monday. “With trade talks with China still unresolved, retailers appear to be bringing spring merchandise into the country early in case tariffs go up in March,” said NRF. “We are hopeful that the talks will succeed, but until the trade war is behind us, retailers need to do what they can to mitigate the higher prices that will inevitably come with tariffs.” Tariffs are scheduled to increase to 25 percent March 2 unless U.S.-China negotiations on a comprehensive trade deal are successful (see 1812140045). U.S. ports handled 1.97 million 20-foot-long cargo containers or their equivalents in December, the latest month for which data are available, said NRF. That was up by 8.8 percent from November and by 13.9 percent from December 2018, it said.