Imports Increasing But Threatened by Growing Trade War
Washington, D.C. -- Imports at the nation’s major retail container ports are expected to grow a healthy 5.8% year-over-year this month but could be threatened in the future if the developing trade war between the U.S. and China continues to escalate, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
“Tariffs are a tax on American consumers in the form of higher prices but they are also a tax on American jobs,” said Jonathan Gold, NRF vice president for Supply Chain and Customs Policy. “If tariffs ultimately lead to a reduction in imports and exports, that will put dockworkers and countless others in the supply chain out of work.”