Release time: Wednesday, September 05, 2018
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According to tracking by the National Retail Federation (NRF) and consulting firm Hackett Associates, imports from major US container ports have hit this summer due to strong sales in the US retail sales and importers rushing to buy Chinese products before implementing new tariffs. The number of imported container in the US has reached two new record this summer, then another record high are expected.
“Although tariffs on most consumer goods are not yet in force, retailers seem to be ready,” said Jonathan Gold, vice president of NRF. “We have seen new records every month this summer. On the one hand, due to domestic tax reforms and economic prosperity, the consumer demand has been increased, on the other hand, it showed the future tariff concerns of consumers.

According to the "Global Port Tracking Report" released by the NRF, the major US container ports achieved a record import of 1.85 million TEUs in June, an increase of 1.6% from the previous month and an increase of 4.4% year-on-year. The report predicts that container imports will further increase to 1.88 million TEU in July, an increase of 4.4% year-on-year. In August, the report predicts that the volume of imported containers will reach an annual peak of 191 TEU, an increase of 4.4% compared with the same period last year.

However, Ben Hackett, founder of consulting firm Hackett Associates, warned that "With the full impact of US trade protectionism, imports and retail sales may slow down next year. The global port tracking report has only slightly lowered in 2018. But we expect domestic imports to decline further by 2019 due to trade wars and the expected economic slowdown.

According to the statistics of the Ministry of Transport Planning and Research Institute, in 2017, the volume of Sino-US trade container production was about 25 million TEU. Among them, China exported 13.4 million TEUs to the United States, and China imported 2.4 million TEUs from the United States.

Taking into account the global production chain distribution of the manufacturing industry, sanctions against China's exports to the United States may affect China's imports of raw materials and parts from other countries. Also it may affect the container traffic and ocean routes. It is recommended to pay close attention to the transmission impact of the Sino-US trade friction escalation on the manufacturing industry chain and prepare in advance.

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