Busiest US ports absorb import surge that is nearing pandemic-era frenzy

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The Straits Times 4h ago

Busiest US ports absorb import surge that is nearing pandemic-era frenzy - The Straits Times

Quick Summary:

Importers are stocking up ahead of US tariffs on Chinese goods and a possible strike by US dock workers.

The latest retail sales report reflects consumer resilience despite higher borrowing costs, a cooling labour market, and an economic outlook clouded by wars and the US presidential election in November.

Sea-Intelligence CEO Alan Murphy said in a research note released last week: “If we get a two-week strike, then realistically, the ports would not be back to normal operations until we are into 2025.