“While this forecast is still preliminary, it shows the impact the tariffs and the administration’s trade policy are having on the supply chain.”
WASHINGTON — With new tariffs putting pressure on international trade, import cargo volume at the nation’s major container ports is tentatively expected to end 2025 5.6% below 2024’s volume, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“While this forecast is still preliminary, it shows the impact the tariffs and the administration’s trade policy are having on the supply chain,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Tariffs are beginning to drive up consumer prices, and fewer imports will eventually mean fewer goods on store shelves. Small businesses especially are grappling with the ability to stay in business. We need binding trade agreements that open markets by lowering tariffs, not raising them. Tariffs are taxes paid by U.S. importers that will result in higher prices for U.S. consumers, less hiring, lower business investment and a slower economy.”
The forecast comes as tariffs on dozens of countries around the world that had been announced, postponed and then finally enacted after months of negotiations and deals began to take effect this week.
“The hither-and-thither approach of on-again, off-again tariffs that have little to do with trade policy is causing confusion and uncertainty for importers, exporters and consumers,” Hackett Associates Founder Ben Hackett said. “Friends, allies and foes are all being hit by distortions in trade flows as importers try to second-guess tariff levels by pulling forward imports before the tariffs take effect. This, in turn, will certainly lead to a downturn in trade volumes by late September because inventories for the holiday season will already be in hand. Meanwhile, U.S. exporters are being left with unsold products as counter tariffs are applied.”