YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Retailers set import records ahead of tariffs

Posted online

A new report from the National Retail Federation shows retailers are setting import records ahead of proposed tariff increases.

"Tariffs on most consumer products have yet to take effect but retailers appear to be getting prepared before that can happen," said Jonathan Gold, NRF's vice president for supply chain and customs policy. "We're seeing new record levels every month this summer. Much of that is to meet consumer demand as tax reform and a thriving economy drive retail sales, but part of it seems to be concern over what's to come."

During June, ports covered by Global Port Tracker handled 1.85 million twenty-foot equivalent units, up 1.6 percent from May and 7.8 percent from a year earlier. A TEU is one 20-foot-long cargo container or its equivalent.

The June figure, according to the report, set a record for the number of containers imported during a single month.

Read more from BRAIN.

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick

Open for Business: Ozarks Elder Law LLC

Ozarks Elder Law LLC closed on its acquisition of RTR Attorneys in Marshfield; Nashville-style fried chicken and catfish restaurant Hot Cluckers got its start; and the first Geico insurance office in the Queen City opened.

Most Read