A National Retail Federation (NRF) article posted online March 9 stated that imports at major retail container ports are expected to continue to rise though the first half of 2017. This is in spite of widespread fears of retail’s eventual decline as a result of President’s Trump’s plans to implement a border adjustment tax (BAT), withdraw from the Trans-Pacific Partnership (TPP), and revise the North American Free Trade Agreement (NAFTA).
The monthly Global Port Tracker Report released by the NRF and Hackett Associates measures the number of containers that arrive in major ports in the U.S. Imports for March and April were forecasted to be up double digits compared to the same two months last year. While the number of containers doesn’t directly correlate to the value of the contents, the increase in volume does imply significantly increased demand and sales.
While it’s too soon to say when and to what degree the President’s changes will be implemented and how they will affect international trade, for the time being, business in the retail sector is brisk as jobs and income continue to grow.
Source: National Retail Federation (nrf.com)