U.S. seaborne imports continued their steady upward growth in May with a 0.8% year over year rise in all imports and a 3.0% increase in containerized freight. That came despite a 1.8% drop in imports from China as there was a compensating surge in shipments from Vietnam, which rose 19.5%, and India with a 9.5% improvement. At the product line there was a diverse performance with apparel imports rising 5.3% – possibly as importers seek to beat a widening of tariff coverage – while furniture declined 1.7% as higher tariffs took effect mid-month. Demand in the main industrial sectors was we...
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