LOS ANGELES, Aug 13 (Reuters) - Ocean imports to the
United States may have peaked in July after retailers raced to
bring in goods from China and elsewhere to avoid potentially
hefty tariffs on holiday-related products, the top executive
from the busiest U.S. seaport said on Wednesday.
Containerized imports to the Port of Los Angeles, the front
door to many U.S. imports, jumped 8% to 544,000 20-foot
equivalent units (TEUs) in July.
"Much of this volume was fueled by importers hustling to
bring in cargo ahead of potential tariff hikes later this month
and beyond," Gene Seroka, the port's executive director, said on
Wednesday.
"Everything is already here for the holiday season," said
Zachary Rogers, lead author of the Logistics Managers' Index,
which serves as an early indicator for economic activity in the
United States.
President Donald Trump's tariff policies, particularly
short-lived 145% levies on goods from China, have wrecked havoc
on U.S. imports as buyers either gorged on or starved themselves
of goods to avoid higher import duties.
The United States and China earlier this week extended their
tariff truce by another 90 days, easing the uncertainty
clouding the retail peak season for stocking stores with holiday
goods.
As a result, major shippers like Walmart ( WMT ), Target ( TGT )
and Home Depot ( HD ) appear to be breaking the
traditional holiday-related import pattern that tended to peak
from August to October.