Home / Knowledge / News / Textiles / US retail imports strong after latest tariff round: NRF

US retail imports strong after latest tariff round: NRF

15
Oct '18
US retail imports strong after latest tariff round: NRF
Imports at major US retail container ports are expected to remain at near-record levels this month despite a new round of tariffs that took effect in September, according to the monthly Global Port Tracker report of the National Retail Federation and Hackett Associates. The latter’s founder Ben Hackett said consumer prices will no doubt start to rise.

“Retailers are continuing to import merchandise in order to meet consumer demand even though tariffs are now in place on roughly half the goods imported from China and the trade war is still escalating,” NRF vice president for supply chain and customs policy Jonathan Gold said.

“Retailers are doing their best to mitigate the impact on their customers, but they are not able to quickly or easily change their sourcing. That means these tariffs will eventually mean higher prices for American consumers,” an NRF press release quoted Gold as saying.

Ports covered by the tracker handled 1.89 million twenty-foot equivalent units (TEU) in August. That was down 0.6 per cent from July but up 3.4 per cent year-over-year. A TEU is one 20-foot-long cargo container or its equivalent.

September was estimated at 1.84 million TEU, up 2.7 per cent year-over-year. October is forecast at 1.87 million TEU, up 4.3 per cent; November at 1.8 million TEU, up 2.3 per cent, and December at 1.79 million TEU, up 4 per cent.

January 2019 is forecast at 1.77 million TEU, up 0.7 per cent over January 2018, and February is forecast at 1.63 million TEU, down 3.5 per cent year-over-year.

Until this year, the record for the number of containers imported during a single month was 1.83 million TEU in August 2017. But that record was broken this June, when 1.85 million TEU were imported, and again in July, with 1.9 million TEU. October will be the fifth month in a row to top last year’s peak.

While cargo numbers do not correlate directly with sales, the imports mirror this year’s strong retail sales.

The first half of 2018 totalled 10.3 million TEU, an increase of 5.1 per cent over the first half of 2017. The total for 2018 is expected to reach 21.4 million TEU, an increase of 4.4 per cent over last year’s record 20.5 million TEU. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Sales tax reduced for Pak textile, leather sectors

Textiles | On 20th Nov 2018

Sales tax reduced for Pak textile, leather sectors

Pakistan’s Federal Board of Revenue (FBR) recently issued procedure...

US may include RMG in revised duty free Nepali items list

Apparel/Garments | On 20th Nov 2018

US may include RMG in revised duty free Nepali items list

The United States is interested to revise the list of Nepali products ...

Courtesy: Microsoft

Information Technology | On 20th Nov 2018

Gap partners with Microsoft for digital transformation

Gap has established a strategic partnership with Microsoft to drive...

Interviews View All

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Iacopo Pardini,

Iacopo Pardini

Founded in 1953, Italian engineering company Arioli Spa started...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search