As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by REUTERS.COM:
LOS ANGELES (Reuters) – Chinese imports to U.S. 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 (WMT.N) and Amazon.com (AMZN.O) are grappling with uncertainty spawned by U.S. President Donald Trump’s protectionist posturing on trade and the outsized spike in China imports in June was likely because of “pre-emptive buying in anticipation of the tariffs,” said Ben Hackett, founder of international maritime consultancy Hackett Associates.
The article goes on to state the following:
“This is a bump that isn’t quite normal,” he said.
The U.S. 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.
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