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US imports rising, but threatened by growing trade war: NRF
17
Apr '18
Courtesy: Artem Bali from Pexels
Courtesy: Artem Bali from Pexels
Imports at major US retail container ports are expected to grow at 5.8 per cent year-over-year in April but could be threatened in future if the developing trade war between the United States and China continues to escalate, according to the monthly Global Port Tracker report released recently by the National Retail Federation (NRF) and Hackett Associates.

According to NRF vice president for supply chain and customs policy Jonathan Gold, if tariffs lead to a reduction in imports and exports, that will put dockworkers and countless others in the supply chain out of work. American consumers and workers should not be punished for China’s wrongdoing, an NRF press release quoted him as saying.

Ports covered by Global Port Tracker handled 1.69 million twenty-foot equivalent units (TEU) in February. That was down 4.1 per cent from January but up 15.8 per cent from a year ago. A TEU is one 20-foot-long cargo container or its equivalent.

March was estimated at 1.54 million TEU, down by 1.2 per cent year-over-year. April is forecast at 1.72 million TEU, up by 5.8 per cent from last year; May at 1.82 million TEU, up by 4.1 per cent; June at 1.83 million TEU, up by 6.5 per cent; July at 1.88 million TEU, up by 4.5 per cent, and August at 1.9 million TEU, up by 3.9 per cent.

The first half of 2018 is expected to total 10.4 million TEU, an increase of 5.6 per cent over the first half of 2017. The total for 2017 was 20.5 million TEU, up by 7.6 per cent from 2016’s previous record of 19.1 million TEU. (DS)

Fibre2Fashion News Desk – India


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