- New tariffs imposed on 7 August are increasing costs for US importers, with ripple effects on consumer prices, supply chains, and retail inventories.
- Import volumes surged in July as businesses rushed shipments ahead of tariff activation, but steep declines are projected for August and September.
- Industry leaders warn that tariff uncertainty will slow economic activity, disrupt trade flows, and harm both US importers and exporters.
After months of negotiations and delays, the US activated new tariffs on 7 August. Jonathan Gold, vice president of supply chain and customs policy at the National Retail Federation (NRF), stressed that these tariffs will drive up prices for consumers and put small businesses at risk. He called for trade agreements that lower tariffs, arguing that higher import taxes lead to reduced hiring, weaker investment, and slower economic growth, according to Yahoo Finance.
Port Data and Volume Trends
Global Port Tracker data shows that US ports handled 1.96 million TEUs in June—slightly up from May but 8.4% below June 2024 levels. A temporary surge to 2.3 million TEUs is expected for July as retailers advanced shipments to beat tariff deadlines. While this would nearly match last year’s figures, volumes are forecast to drop in the following months, with August expected to fall 5% year over year and September to see a sharper 19.5% decline.
Shifting Import Patterns and Inventory Impacts
The early movement of goods has created a distortion in trade flows, as late 2024 figures were already inflated by fears of port strikes. Despite a 3.6% rise in TEU volumes in the first half of 2025 compared with 2024, the remainder of the year is likely to see reduced activity. The 2025 annual total is projected at 24.1 million TEUs, down from 25.5 million in 2024.
Industry Concerns Over Uncertainty
Ben Hackett of Hackett Associates criticised the unpredictable “on-again, off-again” tariff approach, warning that it confuses importers and exporters, disrupts inventories, and leaves US exporters struggling with counter-tariffs abroad. He predicts a downturn in trade volumes from late September as holiday inventories will already be stocked.
Wider Economic and Sectoral Risks
A recent National Foreign Trade Council survey found that US trade policy—particularly tariff implementation—could hinder growth in industries like textiles and erode the global competitiveness of American businesses. Key US ports affected include Los Angeles/Long Beach, Oakland, Seattle/Tacoma, New York/New Jersey, Virginia, Charleston, Savannah, Miami, Jacksonville, and Houston.
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Source: Yahoo Finance
