Latest news with #Descartes
Time of India
4 hours ago
- Business
- Time of India
US ocean container imports tumble in May as China tariffs take hold, ET Infra
Advt US seaborne imports of goods from China dropped 28.5 per cent year-over-year in May, the sharpest decline since the pandemic, as President Donald Trump's 145 per cent tariffs took hold, supply chain technology provider Descartes said on is the top US supplier of goods that enter through seaports, including the nation's busiest in Los Angeles/Long Beach. Domestic businesses ranging from retailer Walmart to automaker Ford depend on those goods to US seaborne imports in May tumbled 7.2 per cent from the year earlier to 2.18 million 20-foot equivalent units - snapping a streak of near-record increases fueled by companies frontloading goods to avoid higher duties."The effects of US policy shifts with China are now clearly visible in monthly trade flows," Descartes said in a Coast ports are more dependent on China trade and bore the brunt of the declines. From April to May, the nation's busiest seaports in Long Beach and Los Angeles experienced steep drops in goods from China, 31.6per cent and 29.9 per cent, respectively, Descartes imports from China included furniture, bedding, plastic goods, machinery, toys and sporting United States and China agreed to a 90-day pause on punitive tit-for-tat tariffs last month. US and Chinese officials met in London on Monday to defuse the high-stakes trade dispute between the world's largest executives and shipping consultants expect volume from China to rebound during the tariff truce, albeit at a more moderate level. That's because the US lowered the tariff for many goods from China to 30 per cent during the pause."China-origin imports may continue to soften in the months ahead as importers reassess sourcing strategies amid rising landed costs," Descartes said.
New Straits Times
10 hours ago
- Business
- New Straits Times
US ocean container imports tumble in May as China tariffs take hold
LOS ANGELES: US seaborne imports of goods from China dropped 28.50 per cent year-on-year in May, the sharpest decline since the pandemic, as President Donald Trump's 145 per cent tariffs took hold, supply chain technology provider Descartes said on Monday. China is the top US supplier of goods that enter through seaports, including the nation's busiest in Los Angeles/Long Beach. Domestic businesses ranging from retailer Walmart to automaker Ford depend on those goods to operate. Overall US seaborne imports in May tumbled 7.20 per cent from the year earlier to 2.18 million 20-foot equivalent units — snapping a streak of near-record increases fuelled by companies frontloading goods to avoid higher duties. "The effects of US policy shifts with China are now clearly visible in monthly trade flows," Descartes said in a statement. West Coast ports are more dependent on China trade and bore the brunt of the declines. From April to May, the nation's busiest seaports in Long Beach and Los Angeles experienced steep drops in goods from China, 31.60 per cent and 29.90 per cent, respectively, Descartes said. Top imports from China included furniture, bedding, plastic goods, machinery, toys and sporting goods. The United States and China agreed to a 90-day pause on punitive tit-for-tat tariffs last month. US and Chinese officials met in London on Monday to defuse the high-stakes trade dispute between the world's largest economies. Port executives and shipping consultants expect volume from China to rebound during the tariff truce, albeit at a more moderate level. That's because the US lowered the tariff for many goods from China to 30 per cent during the pause. "China-origin imports may continue to soften in the months ahead as importers reassess sourcing strategies amid rising landed costs," Descartes said.
Fast Company
15 hours ago
- Business
- Fast Company
U.S. ocean container imports from China fell in May as tariffs took hold
U.S. seaborne imports of goods from China dropped 28.5% year-over-year in May, the sharpest decline since the pandemic, as President Donald Trump's 145% tariffs took hold, supply chain technology provider Descartes said on Monday. China is the top U.S. supplier of goods that enter through seaports, including the nation's busiest in Los Angeles/Long Beach. Domestic businesses ranging from retailer Walmart to automaker Ford depend on those goods to operate. Overall U.S. seaborne imports in May tumbled 7.2% from the year earlier to 2.18 million 20-foot equivalent units – snapping a streak of near-record increases fueled by companies frontloading goods to avoid higher duties. 'The effects of U.S. policy shifts with China are now clearly visible in monthly trade flows,' Descartes said in a statement. West Coast ports are more dependent on China trade and bore the brunt of the declines. From April to May, the nation's busiest seaports in Long Beach and Los Angeles experienced steep drops in goods from China, 31.6% and 29.9%, respectively, Descartes said. Top imports from China included furniture, bedding, plastic goods, machinery, toys and sporting goods. The United States and China agreed to a 90-day pause on punitive tit-for-tat tariffs last month. U.S. and Chinese officials met in London on Monday to defuse the high-stakes trade dispute between the world's largest economies. Port executives and shipping consultants expect volume from China to rebound during the tariff truce, albeit at a more moderate level. That's because the U.S. lowered the tariff for many goods from China to 30% during the pause. 'China-origin imports may continue to soften in the months ahead as importers reassess sourcing strategies amid rising landed costs,' Descartes said.
Reuters
18 hours ago
- Business
- Reuters
US ocean container imports tumble in May as China tariffs take hold
LOS ANGELES, June 9 (Reuters) - U.S. seaborne imports of goods from China dropped 28.5% year-over-year in May, the sharpest decline since the pandemic, as President Donald Trump's 145% tariffs took hold, supply chain technology provider Descartes ( opens new tab said on Monday. China is the top U.S. supplier of goods that enter through seaports, including the nation's busiest in Los Angeles/Long Beach. Domestic businesses ranging from retailer Walmart (WMT.N), opens new tab to automaker Ford (F.N), opens new tab depend on those goods to operate. Ports on the U.S. West Coast handle the greatest share of trade with China and experienced significant volume declines in May with Los Angeles, Long Beach and Tacoma, Washington, down 18.4%, 22.4% and 25.6%, respectively, Descartes data showed. Overall U.S. seaborne imports in May tumbled 7.2% from the year earlier to 2.18 million 20-foot equivalent units - snapping a streak of near-record increases fueled by companies frontloading goods to avoid higher duties. The United States and China agreed to a 90-day pause on punitive tit-for-tat tariffs last month. U.S. and Chinese officials met in London on Monday to defuse the high-stakes trade dispute between the world's largest economies. Port executives and shipping consultants expect volume from China to rebound during the tariff truce, albeit at a more moderate level.
Yahoo
18 hours ago
- Business
- Yahoo
US ocean container imports tumble in May as China tariffs take hold
By Lisa Baertlein LOS ANGELES (Reuters) -U.S. seaborne imports of goods from China dropped 28.5% year-over-year in May, the sharpest decline since the pandemic, as President Donald Trump's 145% tariffs took hold, supply chain technology provider Descartes said on Monday. China is the top U.S. supplier of goods that enter through seaports, including the nation's busiest in Los Angeles/Long Beach. Domestic businesses ranging from retailer Walmart to automaker Ford depend on those goods to operate. Ports on the U.S. West Coast handle the greatest share of trade with China and experienced significant volume declines in May with Los Angeles, Long Beach and Tacoma, Washington, down 18.4%, 22.4% and 25.6%, respectively, Descartes data showed. Overall U.S. seaborne imports in May tumbled 7.2% from the year earlier to 2.18 million 20-foot equivalent units - snapping a streak of near-record increases fueled by companies frontloading goods to avoid higher duties. The United States and China agreed to a 90-day pause on punitive tit-for-tat tariffs last month. U.S. and Chinese officials met in London on Monday to defuse the high-stakes trade dispute between the world's largest economies. Port executives and shipping consultants expect volume from China to rebound during the tariff truce, albeit at a more moderate level. Sign in to access your portfolio
