A race bongdaso mobile bring goods into the US before more tariffs on Chinese goods kick in is helping bongdaso mobile fuel an earlier-than-usual peak season at West Coast ports.
That import frenzy is adding bongdaso mobile a capacity crunch on Pacific trade lanes caused mainly by shipping lines avoiding attacks by Houthi rebels in the Red Sea and contributing bongdaso mobile elevated freight charges.
“Rates are higher than they’ve been for us in well over two years,” said Matt Priest, president of the Footwear Distributors & Retailers of America. Even though some of the Biden administration’s new tariffs don’t impact the shoe industry directly, “we think there’s been a run on capacity there bongdaso mobile get product in before those tariffs take effect” on Aug. 1.
“And then there’s the whole question about if the former president wins election in November,” Priest said. The Trump campaign’s proposal bongdaso mobile hike tariffs, especially on Chinese goods, is driving a lot of FDRA members bongdaso mobile consider bringing product in prior bongdaso mobile those potential decisions bongdaso mobile push duties up, he said.
Priest joined Port of Los Angeles Executive Director Gene Seroka at a briefing on Wednesday, where they fielded questions about turmoil across global shipping lanes and the uncertainty surrounding tariffs.
Read More: Port of LA Container Volumes Up 14% on Strong Trade Activity
If Trump wins and a universal 10% tariff on imports and 60% on Chinese goods both take effect, “that could change the landscape, the future of the Port of LA,” Seroka said. But since then-President Trump first imposed tariffs in 2018, “we've shown bongdaso mobile be pretty nimble, and we’ve certainly been out there hustling for cargo.”
Ultimately, Priest said he’d encourage either Trump or Joe Biden bongdaso mobile separate the footwear industry from other industries “critical” bongdaso mobile China and stress that tariffs are paid by consumers.
“We understand that there’s kind of a rise in consideration of the utility of tariffs, but we’re also the poster child of how tariffs did not keep domestic production in place,” Priest said, adding that the footwear industry pays billion a year in tariffs and still imports 99% of its shoes.
”The fact of the matter is, any cost that’s added at the border on a good is going bongdaso mobile drive up the cost bongdaso mobile consumers,” Priest said.
Source: https://www.bloomberg.com/news/newsletters/2024-07-18/supply-chain-latest-new-us-tariffs-and-port-volumes
𝐀𝐋𝐒 – 𝐓𝐡𝐞 𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐨𝐟 𝐀𝐯𝐢𝐚𝐭𝐢𝐨𝐧 𝐋𝐨𝐠𝐢𝐬𝐭𝐢𝐜𝐬
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