With President Trump saying he plans to both increase and broaden tariffs on goods from China, imports at the nation’s major retail container ports are expected to see unusually high levels the remainder of this spring and through the summer, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Macroeconomic issues including tariffs in the United States and the on-going Brexit issue in the United Kingdom had a negative impact on fourth quarter performance at Lifetime Brands, its CEO said.
White House plans to increase tariffs from 10% to 25% on $200 billion of products made in China have been delayed, President Donald Trump said, citing “substantial progress” in talks between the United States and China.
Imports at the nation’s major retail container points, while down from records highs this past fall, remain strong as retailers look to stay ahead of a possible tariff increase on Chinese made goods in March.
According to a University of Michigan survey, consumer sentiment in the U.S. slipped during early January, with the decline primarily focused on prospects for the domestic economy.
Following months of record growth, the level of imports at the nation’s ports have slowed, according to a report from the National Retail Federation and Hackett Associates.
The number of containers coming into the U.S. reached 2 million in October, the first time that level has been breached, according to the monthly Global Tracker Report from the National Retail Federation and Hackett Associates.
The Trump Administration has delayed the scheduled 25% tariff on $200 billion worth of goods manufactured in China that was set to begin January 1.
While the issue of tariffs has been much discussed throughout 2018, retailers and housewares product suppliers have expressed concern about their potential impact on consumer buying habits.
Import levels at the nation’s ports have slowed ahead of the holidays, but remain higher than normal, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates.
Imports at the nation’s major retail container ports are expected to remain at near-record levels in October despite a new round of tariffs that took effect in September, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
In its effort to fight the recent $200 billion in tariffs imposed by the Trump administration, Walmart raised concerns with the U.S. Trade Representative about the potential economic impact tariffs could have on retailers, suppliers and consumers.
The Trump administration has imposed tariffs on $200 billion worth of product imported from China, which includes a host of consumer products such as housewares, consumer electronics, tools and food.
Despite some macro economic concerns among consumers and inclement weather in the U.S., retail sales gained in August, according to the National Retail Federation.
As retail sales remain strong, traffic at the nation’s container ports continues to grow as well, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates.
In testimony before the Office of the U.S. Trade Representative, the National Retail Federation spoke out against the Trump administration’s proposed $200 billion in tariffs on a host of items including housewares and various home products.
July retail sales were up 4.9% year-over-year and 0.4% seasonally adjusted from June with sales at furniture and home furnishing stores and electronics and appliances stores remaining strong.
The International Housewares Association, which previously had come out against proposed tariffs on a host of housewares products, is raising new concerns over an increase in the proposed rate hike from 10% to 25%.
With concerns rising over proposed new tariffs on products from China, imports at the nation’s major retail container ports have set two new records this summer and are expected to set another in August, according to the monthly Global Port Tracker report released by the National Retail Federation and Hackett Associates.
Second quarter sales at Newell Brands were down as company officials pinned the decrease on the closing of Toys ‘R Us and inventory destocking in the office superstore segment.