NRF Estimates November Retail Imports Surged 8% Ahead of List 4B Tariffs

Retail imports through the major U.S. container ports “bumped up significantly” in November as retailers imported merchandise ahead of the 15 percent Section 301 List 4B tariffs set to take effect Sunday, said the National Retail Federation Monday. “At this point, holiday merchandise is already in the country, so the direct impact of new tariffs won’t be seen until the season is over,” said NRF. Tariffs are bad for “consumer and business confidence,” it said, urging the Trump administration to cancel or postpone List 4B “as a sign of good faith.” The U.S. needs a trade deal with China “as soon as possible so we can bring an end to the trade war that has put a drag on the U.S. economy for far too long,” it said. The White House didn’t comment. NRF estimates U.S. ports handled 1.88 million 20-foot-long cargo containers, but that November imports jumped to an estimated 1.95 million, an 8 percent increase from November 2018, and the highest volume since August.