Fashion
US import volumes set to dip below 2 mn TEUs in 2025 amid high tariffs
The latest tariffs—25 per cent on upholstered furniture regardless of country and the same rate on kitchen cabinets and bathroom vanities—are set to take effect next week and increase in January. And a tariff increases on imports from China that was delayed by 90 days in August is scheduled to go into effect November 10, unless a deal is reached or President Donald Trump decides on another delay, NRF said in a press release.
“This year’s peak season has come and gone, largely due to retailers frontloading imports ahead of reciprocal tariffs taking effect,” said Jonathan Gold, vice president for supply chain and customs policy at NRF. “New sectoral tariffs continue to be announced, but most retailers are well-stocked for the holiday season and doing as much as they can to shield their customers from the costs of tariffs for as long as they can.”
US import cargo volumes at major ports are expected to drop below 2 million TEU monthly for the rest of 2025 as tariffs rise and retailers remain well-stocked, according to the NRF and Hackett Associates.
Peak season imports have passed, with October to December volumes projected to fall up to 19 per cent YoY, reflecting early shipments and ongoing tariff uncertainty.
“Ongoing volatility in US tariff policy is creating significant economic uncertainty, with trade volumes expected to see unpredictable shifts over the next four to six months,” said Ben Hackett founder of Hackett Associates. “Many large companies pre-emptively imported goods to build up inventories, but as those stockpiles are depleted, the full inflationary impact of the tariffs will become apparent.”
US ports covered by Global Port Tracker handled 2.32 million TEU—one 20-foot container or its equivalent—in August. That was down 2.9 per cent from July’s 2.39 million TEU—the peak month for the year—but up 0.1 per cent year over year (YoY).
Ports have not yet reported numbers for September, but Global Port Tracker projected the month at 2.12 million TEU, down 6.8 per cent year over year.
October is forecast at 1.97 million TEU, down 12.3 per cent YoY, and November at 1.75 million TEU, down 19.2 per cent. December is forecast at 1.72 million TEU, down 19.4 per cent YoY for the slowest month since 1.62 million TEU in March 2023.
While the falling monthly totals are related to tariffs, the YoY percentage declines are both because of this year’s early peak season and because imports in late 2024 were elevated by concerns over port strikes, added the release.
The first half of 2025 totalled 12.53 million TEU, up 3.7 per cent year over year. The full year is forecast at 24.79 million TEU, down 2.9 per cent from 25.5 million TEU in 2024.
January 2026 is forecast at 1.87 million TEU, down 16.1 per cent year over year, and February 2026 is forecast at 1.77 million TEU, down 12.8 per cent.
Fibre2Fashion News Desk (SG)
Economic momentum remained strong at the end of 2025, with real GDP expanding 8.4 per cent year on year (YoY) in the fourth quarter, the fastest pace in several years. Growth was driven by robust export-oriented industrial production. Credit growth surged to 19.4 per cent YoY by December, well above deposit growth of 14 per cent, SBV said in a release.
Vietnam’s interbank rates, which rose sharply in late 2025, are expected to ease in 2026 as credit growth and economic momentum cool.
GDP expanded 8.4 per cent year on year in Q4, while credit growth of 19.4 per cent outpaced deposits.
Despite a strong 2025, US tariff risks remain.
The SBV is likely to keep rates steady while targeting slower credit growth.
While Vietnam enters 2026 on a positive footing after achieving an estimated 8 per cent growth in 2025, external risks remain significant for the export-driven economy. Goods exports to the US, which account for around 30 per cent of the total, face the lagged impact of 20 per cent reciprocal tariffs, uncertainty over transshipment duties, and the risk of additional sectoral measures, including possible semiconductor levies.
Monetary authorities have signalled a cautious policy stance for 2026 despite an official GDP growth target of 10 per cent, which analysts view as difficult to achieve. Growth is expected to moderate to around 6.5 per cent, while the SBV has set a lower credit growth target of 15 per cent to limit overheating and resource misallocation risks.
The refinancing rate is expected to remain unchanged at 4.50 per cent, though the possibility of an unexpected rate hike cannot be ruled out if liquidity strains persist.
Fibre2Fashion News Desk (HU)
Published
January 16, 2026
New addition at Interjeans: following last year’s arrival of German athletic-luxury brand Bogner, the San Marino-based company in Rovereta, founded in 1992 by Andrea Belletti, is expanding its brand portfolio and has outlined its growth plans to FashionNetwork.com.
“Last November we signed a distribution agreement for the Italian market with Belstaff: a storied brand with motorcycling roots, founded in England in 1924, which I am sure will be a must-have once again. For 2026 we expect encouraging results, driven in particular by this addition,” said Belletti.
“As for Interjeans, we are not considering any company-owned stores beyond the one in Riccione,” the manager continued. “We remain true to our roots, focusing on distribution, but we would like to develop a shop-in-shop format with key customers that would allow us greater control over the product assortment, layout and communication. We are currently present with Lyle & Scott and Superdry in Rinascente and Coin, via concessions, but we would like to extend this format to include Belstaff as well,” Belletti continued.
Interjeans, which closed 2025 with turnover of €39 million, distributes in Italy the brands G-Star Raw, Lyle & Scott, Dr Denim, Karl Lagerfeld (three lines), Bogner, O’Neill, the Greek womenswear brand BSB, and Superdry.
Julian Dunkerton, CEO of the British clothing brand he founded in 2003 in Cheltenham—a label that blends American preppy-vintage style with English elegance—presented the new Superdry collection. It stands out for its clean lines, perfect balance and refined functionality.
Speaking to FashionNetwork.com, the entrepreneur revealed he is very pleased with the results achieved after a major reorganisation.
Dunkerton described it as a “massive shake-up” that has returned the company to profit.
“We have worked hard on the collections and distribution, reviewed the structure, and delisted from the stock market. Today, I feel we are on the right path: there is consistency and a clear awareness of who we are. Our presence at Pitti is fundamental; it is the most important international event in the industry and for us it truly represents the place to be. Next year, I would like to double the size of our space and bring our womenswear offer to Florence as well, which now accounts for 50 per cent of the total. In addition, we plan to open 24 Superdry stores in 2026 with a completely revamped store format that emphasises our British heritage and offers a lighter, brighter, higher-quality aesthetic. We will operate through both franchise agreements and direct management, predominantly in the UK,” concluded the Superdry founder.
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