Companies are expediting cargo shipments into the U.S. ahead of new tariffs from President-elect Trump, with Chinese trade the biggest on the move.
Shippers are frontloading cargo bound for the U.S. market due to uncertainty regarding new tariffs from President-elect Trump and potential supply chain congestion, including items from apparel to sneakers to home appliances, and critical components for infrastructure projects.
Paul Brashier, vice president of global supply chain for ITS Logistics, said companies started pulling trans-pacific inventory ahead as early as late November."Not only was inventory from China pulled ahead but all transpacific origins as there is a concern that there will be a wave of additional freight brought in as tariffs are announced," said Brashier. " E-commerce goods, small appliances, soft goods, and replacement parts are all effected.
"Tariffs remain top of mind for everybody in the industry," said Stephen Lamar, CEO of the American Apparel & Footwear Association."Many have accelerated deliveries or are accelerating sourcing diversification strategies to mitigate tariff risk. But no amount of planning can change the fact that tariffs are taxes that fuel inflationary pressures.
Survey respondents also indicated that shippers were mitigating tariffs by switching to non-Chinese suppliers and manufacturing operations in Vietnam, Cambodia, India, Malaysia, Kenya, Indonesia, Bangladesh, Taiwan, and Turkey., Texas is starting to see a major strategic shift in importance.
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