Latest news with #JacksonWood
Motor 1
3 days ago
- Automotive
- Motor 1
Car Shipments to the US Have Fallen Off a Cliff. Guess Why
Sea-based car shipments to the United States fell off a cliff in May, down over 70 percent versus the same time last year, according to Automotive News . Citing trade database Descartes Datamyne, the report claims there were nearly 10,000 fewer vehicles imported via ocean ports. The report shows a 72.3 percent drop in imports throughout the month of May compared to the same period last year. Descartes Datamyne says importers shipped roughly 9,380 fewer "20-foot equivalent units" to the US. One 20-foot equivalent unit is equal to about one vehicle, depending on size. The data also recorded a 14.8 percent drop in imports for auto parts and accessories. "It's almost impossible to reach any other conclusion than this is the impact of vehicle tariffs manifesting itself in import volumes," Jackson Wood, director of industry strategy for global trade intelligence at Descartes Systems Group, told Autonews . "My read on this is that importers are pausing, hoping that more favorable tariff conditions will emerge in the medium term." The data above doesn't take land-based shipments from Canada or Mexico into account—only sea-based imports from places like Asia and Europe. Still, it paints a worrisome picture for inventory levels in the US. Before tariffs went into effect in April, automakers loaded up on dealership inventory, hoping to avoid raising prices for buyers. Now, predictably, companies are waiting to see if anything changes before they start shipping cars again. But they can only wait so long. According to Kelly Blue Book , automakers nationwide had an average of 66 days worth of inventory—that is, the number of days before they sell every car sitting on the lot—before running out. It won't be long before automakers will have to start shipping cars en masse again to keep up with demand. And if tariff policies don't change, that'll mean big price hikes. More on Tariffs Bentley Has You Covered On Tariffs—For Now Volvo CEO: Customers Must Pay Tariff Costs, Not Us Get the best news, reviews, columns, and more delivered straight to your inbox, daily. back Sign up For more information, read our Privacy Policy and Terms of Use . Share this Story Facebook X LinkedIn Flipboard Reddit WhatsApp E-Mail Got a tip for us? Email: tips@ Join the conversation ( )
Reuters
10-03-2025
- Business
- Reuters
US container imports at near-record level in February, tariff risks loom
LOS ANGELES, March 10 (Reuters) - U.S. container import volumes increased 4.7% year-on-year in February, but could cool in coming months as the U.S. trade war with China and other key trading partners takes hold, supply chain technology provider Descartes ( opens new tab said on Monday. U.S. seaports handled more than 2.2 million 20-foot equivalent units (TEUs), the second highest February volume on record, fueled by a 7.9% rise in volume from China, Descartes said. Last year's robust import volume has flowed into 2025, fueled by resilient consumer spending and the front-loading of manufacturing parts and other goods ahead of expected tariffs on China, Mexico and Canada. The tariffs on China have a significant impact on ocean shipping since most of those goods come to the U.S. on ships. Goods from Mexico and Canada usually enter the U.S. by truck or train. "Global trade conditions are clearly becoming more challenging with new and potential U.S. tariff changes amid escalating trade tensions with multiple countries," said Jackson Wood, Descartes' director of industry strategy. U.S. President Donald Trump imposed 10% tariffs on Chinese goods last month and doubled them to 20% this month. Those levies are in addition to the up to 25% tariffs imposed on Chinese imports during Trump's first term. Data from China showed that the country's exports unexpectedly lost momentum over the January-February period, as U.S. front-loading diminished and Chinese factories closed for the Lunar New Year festival. China has retaliated with additional tariffs of 10%-15% on certain U.S. imports from March 10. It also raised complaints about the U.S. tariffs with the World Trade Organization. Meanwhile, Trump plans to continue his trade war with countries around the globe. In an address to Congress last week, Trump said further tariffs would follow on April 2, including "reciprocal tariffs" and non-tariff actions aimed at balancing out years of trade imbalances.
