NRF: Cargo Levels to Remain High

Despite the threat of high tariffs, the NRF said retailers continue to import goods.

February 10, 2025

Imports at the nation’s major container ports are “expected to remain high” as retailers continue to bring in cargo ahead of growing tariffs on China and threats against other countries, according to the Global Port Tracker report released by the National Retail Federation last week.

“Retailers have engaged in mitigation strategies to minimize the potential impact of tariffs, including frontloading of some products, but that can lead to increased challenges because of added warehousing and related costs. We hope to resolve our outstanding border security issues as quickly as possible because there will be a significant impact on the economy if increased tariffs are maintained and expanded,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.

NRF reported that retailers have been frontloading imports of key products for several months, due to the potential for East Coast and Gulf Coast port strikes, which seemed likely in January, as well as to get ahead of potential tariffs from President Donald Trump.

Ben Hackett of Hackett Associates said tariffs on Canada and Mexico would initially have minimal impact at ports because most imports from either country move by truck, rail or pipeline. In the long term, tariffs on goods that receive final manufacturing in Canada or Mexico but originate elsewhere could prompt an increase in direct maritime imports to the U.S. In the meantime, port cargo “could be badly hit” if tariffs on overseas Asian and European nations increase prices and prompt consumers to buy less, he said.

“U.S. ports covered by Global Port Tracker handled 2.14 million twenty-foot equivalent units (TEU, a one 20-foot container or its equivalent) in December, although the Port of New York and New Jersey and the Port of Miami have yet to report final data. That was down 0.9% from November but up 14.4% year over year, and would be the busiest December on record,” said NRF. “December brought 2024 to a total of 25.5 million TEU, up 14.8% from 2023 and the highest level since 2021’s record of 25.8 million TEU during the pandemic.”