The National Retail Federation (Washington, D.C.) released a statement last week reporting that despite proposed tariffs on Chinese goods, retail imports are expected to grow steadily throughout summer, according to a monthly report by Global Port Tracker.
NRF VP for Supply Chain and Customs Policy John Gold said that retailers are stocking up on merchandise that they believe will be considerably more expensive once tariffs are officially imposed. He said the impending tariffs will ultimately pass the higher cost of goods onto the consumer, because “there’s no quick or easy way to switch where these products come from.”
Imports are expected to peak in July and August, with an estimated 1.9 million and 1.92 million 20-foot cargo containers, respectively, up roughly 5 percent from last year.