Retailers increase imports as a hedge against higher tariffs

Jun 12, 2019
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Written by Washington Retail
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Retailers are stocking up imports at a faster than normal rate to beat possible new tariffs in the U.S. trade war with China, the National Retail Federation reports.

Getting shipments ahead of possible new tariffs could help retailers hold down prices heading into the second half of the year, said Jonathan Gold, NRF’s Vice President for Supply Chain and Customs Policy.

NRF is predicting that imports of merchandise will be up 3% the first half of this year compared to last year, which was a record year for imports to U.S. retailers.

The Trump administration increased 10% tariffs on Chinese goods to 25% in May for imports arriving in the U.S. after June 15 of this year. The administration also has announced a 5% escalating tariff on all imports from Mexico. Read more here and here.