US imports fall sharply

IMPORTS FROM China declined by 20.8% over April—the steepest monthly decline since March 2020—and by 28.5% compared to May 2024.

The figures were revealed in Descartes’ June Global Shipping Report.

Descartes director of industry strategy Jackson Wood, says: “After several months of import growth and following a wave of frontloading of shipments in April, the impact of new tariffs began to materialise in May.

“The effects of US policy shifts with China are also now clearly visible in monthly trade flows. While the 90-day agreement between the two countries to lower tariffs may bring U.S. importers some short-term relief, China-origin imports may continue to soften in the months ahead as organisations continue to reassess sourcing strategies amid rising landed costs, and as changes to the US de minimis regulation for low-value Chinese imports continues to add cost pressures to trade.”