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2/10/2025
Import traffic at major U.S. container ports are expected to remain high as retailers bring in cargo ahead of increasing tariffs on China, according to a Global Port Tracker report released Feb. 7 by the National Retail Federation and Hackett Associates.
While retailers are trying to diversify their sources, those changes will take time. In the meantime, tariffs on China and other countries will lead to higher prices for American consumers, said Jonathan Gold, NRF's vice president for supply chain and customs policy, in a press release.
Retailers were frontloading products for several months due to potential East and Gulf coast worker strikes in January as well as to get ahead of potential tariffs issued by President Donald Trump, NRF officials said. On Feb. 1, Trump announced 25% tariffs on most goods from Canada and Mexico and 10% on goods from China. The North American tariffs were suspended for 30 days, but China tariffs took effect Feb. 4.
Port cargo “could be badly hit” if tariffs on overseas Asian and European nations increase prices and prompt consumers to buy less, said Ben Hackett, founder of Hackett Associates.
U.S. ports covered by Global Port Tracker handled 2.14 million 20-foot equivalent units (TEUs) in December 2024, although the Port of New York and New Jersey and the Port of Miami had yet to report final data. That was down 0.9% from November 2024, but up 14.4% year over year. It was also the busiest December on record, NRF officials said.
Ports have not yet reported January numbers, but Global Port Tracker projected January port volume at 2.11 million TEUs, up 7.8% year over year. February is projected at 1.96 million TEUs, up 0.2%; March is forecast at 2.14 million TEUs, up 11.1%; April at 2.18 million TEUs, up 8.2%; May at 2.19 million TEUs, up 5.4%; and June at 2.13 million TEUs, down 0.6%.