U.S. Imports Decline Sharply in June Amid Tariff Concerns

U.S. Imports Decline Sharply in June

News: U.S. imports fell more than expected in June as tariff concerns hit retailers, according to the National Retail Federation (NRF). Ports handled 1.96 million TEU, down 8.4% year-on-year, missing forecasts of 2.06 million.

The decline follows President Trump’s tariff hikes, now ranging from 10% to 50%, with India, Brazil, and Switzerland among the hardest hit.

NRF projects U.S. import cargo volume will end 2025 at 5.6% below 2024 levels. Retailers like Under Armour and Deckers Outdoor are diversifying supply chains away from Southeast Asia to mitigate costs.

NRF warned tariffs will bring higher consumer prices, reduced product choices, and strained holiday supplies, with long-term risks of lower investment, fewer jobs, and slower U.S. economic growth.