Imports from Asia have jumped as U.S. firms have rushed to buy goods before the Trump tariffs kick in Jan. 1. The American Trucking Associations reported that business, especially on the Asia-focused West Coast, soared last month in anticipation of tariffs cutting imports. The increase was 6.3 percent. “After slowing at the end of the third quarter, truck freight surged in October,” ATA Chief Economist Bob Costello said in a statement. Last month’s strength was due, at least in part, to strong import numbers, especially on the West Coast. This is likely a pull ahead of imports as shippers try to take delivery of goods before Jan. 1 when tariffs on a large list of goods [from] China increases from 10 percent to 25 percent,” he added. Truck tonnage jumped 6.3% in October -- up 9.5% from this time last year.
The article Importers rush to beat Trump’s Jan. 1 tariffs appeared first on washingtonexaminer.com.
Jump to article
Leave a Reply