China and Tariffs Aren’t the Surprise in February’s U.S. Import Performance — Panjiva


China and Tariffs Aren’t the Surprise in February’s U.S. Import Performance

China 1758 Cons. Discr. - Apparel 214 Cons. Discr. - Autos 661 Cons. Discr. - Durables 107 European Union 406 Industrials - Capital Goods 265 Materials - Chemicals 93 Materials - Construction 71 Trade Balance 657 U.S. 3297

U.S. seaborne imports snapped their 23 month growth streak after falling 4.5% year over year in February. That followed a 5.5% rise in the prior three months on average. The main driver was a 9.9% slump in shipments from China after optimism about a trade deal led importers to end a previously rapid process of inventory build-up. Yet, imports from other regions also declined including the EU – which fell 4.6% – Japan, and South Korea, suggesting a wider decline in global trade. At the industry level the biggest reversal in fortunes was seen in the consumer sector with a 10.2%...

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