Goods from China boosted U.S. ocean imports in October, Descartes said

 Shipments from China helped U.S. imports of containerized goods exceed 2.4 million 20-foot equivalent units (TEUs) for the fourth consecutive month in October,trade data supplier Descartes Systems Group DSG.TO said on Monday.

U.S. container imports last month totaled 2.49 million TEUs, a 1% decline from September and just 2.4% lower than this year's high in July.

Import volume from China reached 960,016 TEUs, up 8.3% from October 2023 and reflecting an overall upward trend this year. The most common imports from China include furniture, bedding, toys, games and sports equipment, Descartes data showed.

U.S. President-elect Donald Trump has promised to impose 60% tariff on Chinese goods and on products from other countries, including Mexico. Some importers told Reuters they already have rushed in shipments to avoid paying additional levies on Chinese products.

China accounted for 38.5% of total U.S. container imports in October, below the February 2022 peak of 41.5%.

At seven of the top 10 U.S. ports, transit time delays increased in October. That includes the top five East and Gulf Coast ports, where operations were disrupted by a three-day strike at the beginning of the month.

The International Longshoremen's Association (ILA) labor union and the United States Maritime Alliance (USMX) employer group ended that impasse with a deal on wages. They set a new Jan. 15 deadline to reach a tentative deal on port automation and other remaining issues.

https://www.xm.com/au/research/markets/allNews/reuters/goods-from-china-boosted-us-ocean-imports-in-october-descartes-said-53965837