LOS ANGELES: Chinese imports to US ports rose more than expected in June, suggesting that some retailers moved up orders to insulate themselves from an intensifying trade war that threatens to send up costs on a growing number of consumer products.
Retailers such as Walmart Inc and Amazon.com face uncertainty due to US President Donald Trump’s threat to impose more tariffs on Chinese goods, and the jump in imports from the country was likely because of “pre-emptive buying in anticipation of the tariffs”, said Ben Hackett, founder of international maritime consultancy Hackett Associates.
“This is a bump that isn’t quite normal,” he said.
The US container port peak season is traditionally driven by orders for Chinese-made clothing, electronics and toys for the back-to-school season running from June to September, and then the winter holiday season.
The volume of loaded shipping containers from China to all US ports was up 6.3 per cent in June from a year earlier after falling 6.9pc in May and 3.9pc in April, said Gene Seroka, executive director of the Port of Los Angeles, the busiest US container port and No. 1 hub for ocean trade with China.
Published in Dawn, July 15th, 2018
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