Ocean Carriers Brace for Orders Surge Ahead of Potential New Tariffs
By Erica E. Phillips | Oct. 30, 2018 1:17 p.m. ET
A growing array of seaport and trade figures suggest U.S. companies pulled forward their orders for goods from China to get ahead of new tariffs, and shipping and logistics businesses now are bracing for a similar surge before additional tariffs could be rolled out at the start of next year.
The push to get goods to U.S. shores brought an early peak season for seaports, while raising costs for importers and adding distribution complications that could grow across supply chains in the coming months.
“After the section 232 and 301 tariffs were announced back in March, we started to see cargo moving ahead earlier in the year,” said Gene Seroka, executive director of the Port of Los Angeles. “We did see companies looking to put their purchase orders in and advance those inventories.”
Comments are closed