U.S. import growth has ground to a halt with a second month of essentially unchanged incoming seaborne shipments on a year earlier. That’s due mostly to non-containerized freight as containerized volumes rose 3%. A 9% surge in automotive shipments could be blamed on NAFTA negotiations, though these will take as much as a year to implement. Steel imports also increased 3% despite the imposition of tariffs at the end of March. A lackluster 1% rise in capital goods imports likely reflects softening business sentiment, and absent a marked change in business conditions the next shift in impor...
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