Fashion
Tariffs drive down US import volumes, NRF warns of economic strain
The forecast comes as tariffs on dozens of countries around the world that had been announced, postponed and then finally enacted after months of negotiations and deals began to take effect this week.
Major US ports’ import volumes in 2025 are forecast to end 5.6 per cent below 2024 as new tariffs bite, according to NRF and Hackett Associates.
July likely surged to 2.3 million TEU on pull-forward, with August–December sharply lower YoY.
H1 2025 rose 3.6 per cent to 12.53 million TEU, but the full-year outlook is 24.1 million TEU, reflecting policy uncertainty and inflated late-2024 comps.
The ports have not yet reported numbers for July, but Global Port Tracker projected that the month surged to 2.3 million Twenty-Foot Equivalent Units (TEU) as retailers brought in merchandise ahead of this month’s tariffs. That would be the highest number in a year, up 17.3 per cent from June and down just 0.5 per cent YoY, according to the Global Port Tracker report released by the NRF and Hackett Associates.
August is forecast at 2.2 million TEU, down 5 per cent YoY, and September at 1.83 million TEU, down 19.5 per cent YoY. October is forecast at 1.82 million TEU, down 18.9 per cent YoY; and November at 1.71 million TEU, down 21.1 per cent for the lowest total since 1.78 million TEU in April 2023. December is forecast at 1.72 million TEU, down 19.3 per cent YoY.
While the falling aggregate totals in September through December are related to pulling cargo forward during the first half of the year due to tariffs, the large YoY percentage declines are partly because imports in late 2024 were elevated due to concerns about East Coast and Gulf Coast port strikes.
The first half of 2025 totalled 12.53 million TEU, up 3.6 per cent YoY. Volume forecast for the remainder of the year would bring 2025 to a total of 24.1 million TEU, down 5.6 per cent from 25.5 million TEU in 2024, added the report.
US ports covered by Global Port Tracker handled 1.96 million TEU—one 20-foot container or its equivalent—in June, the latest month for which final data is available. That was up 0.7 per cent from May but down 8.4 per cent YoY.
“While this forecast is still preliminary, it shows the impact the tariffs and the administration’s trade policy are having on the supply chain,” said Jonathan Gold, NRF vice president for supply chain and customs policy. “Tariffs are beginning to drive up consumer prices, and fewer imports will eventually mean fewer goods on store shelves. Small businesses especially are grappling with the ability to stay in business. We need binding trade agreements that open markets by lowering tariffs, not raising them. Tariffs are taxes paid by US importers that will result in higher prices for US consumers, less hiring, lower business investment and a slower economy.”
“The hither-and-thither approach of on-again, off-again tariffs that have little to do with trade policy is causing confusion and uncertainty for importers, exporters and consumers,” said Ben Hackett, founder at Hackett Associates. “Friends, allies and foes are all being hit by distortions in trade flows as importers try to second-guess tariff levels by pulling forward imports before the tariffs take effect. This, in turn, will certainly lead to a downturn in trade volumes by late September because inventories for the holiday season will already be in hand. Meanwhile, US exporters are being left with unsold products as counter tariffs are applied.”
Fibre2Fashion News Desk (SG)
Woven garment exports slightly outpaced knitted garment exports in terms of growth. Knitwear exports (Chapter **) rose by *.** per cent to $*.*** billion, compared to $*.*** billion in the same period of fiscal ****–**. Woven apparel exports (Chapter **) increased by *.** per cent to $*.*** billion, up from $*.*** billion in July–September ****, EPB data showed.
Home textile exports (Chapter **, excluding ******) also grew, rising by *.** per cent to $***.** million, compared to $***.** million in the same period of the previous fiscal. Collectively, exports of woven and knitted apparel, clothing accessories, and home textiles accounted for **.** per cent of Bangladesh’s total exports, which stood at $**.*** billion during the period. Higher demand for diversified and value-added textile products supported this growth.
Slightly more than half of the various industrial sectors produced less than they did one year previously. Of the eight largest industrial sectors, output rose the most sharply in the repair and installation of machinery, while it fell the most sharply in the transport equipment industry.
A more accurate picture of changes in short-term output is obtained when the figures are adjusted for seasonal effects and the working-day pattern. After adjustment, manufacturing output rose by 1.7 per cent in August relative to July, CBS said in a press release.
In August 2025, Dutch manufacturing output remained unchanged year-on-year, although output declined in over half of the industrial sectors.
After seasonal adjustment, output rose by 1.7 per cent compared to July.
The strongest growth was seen in the repair and installation of machinery, while transport equipment recorded the sharpest decline.
After adjusting for seasonal and working-day effects, manufacturing output often fluctuates significantly. In the spring of 2020, output declined rapidly, reaching a low point in May 2020. This was followed by an upward trend until May 2022. The trend has reversed since then.
Producer confidence was less negative in September than it was in August. Manufacturers were more positive regarding output for the next three months, in particular.
Germany is an important market for the Dutch manufacturing sector. In September, German manufacturers were more negative than they were in August, as reported by Eurostat. In August, the calendar-adjusted output of the German manufacturing sector was down by 5.1 per cent, year on year. Relative to July, output fell by 5.5 per cent, as reported by Destatis.
Fibre2Fashion News Desk (RR)
The first subprogramme, approved in 2022, introduced pivotal policy measures that guided the energy sector toward a more efficient and renewable development pathway. Building on this foundation, subprogramme 2 advances regulatory reforms to strengthen the energy efficiency framework and enhance policy clarity to attract private sector investment. A key milestone under the subprogramme is the introduction of the country’s first set of regulations establishing Minimum Energy Performance Standards for electrical appliances, starting with air conditioners, which account for the largest share of energy consumption in the residential sector, ADB said on its website.
Subprogramme 2 will also establish an Energy Efficiency Revolving Fund aimed at facilitating access to finance for local small and medium-sized enterprises (SMEs) to invest in energy-efficient technologies. The revolving fund will be set up through a financial intermediation structure to enable local banks to extend loans to SMEs for energy efficiency investments. By mobilizing domestic financial institutions and supporting SMEs, the revolving fund is expected to accelerate the nationwide scale-up of energy efficiency investments.
Asian Development Bank (ADB) has approved $82.5 million for Phase 2 of Cambodia’s Energy Transition Sector Development Programme to support clean energy through policy reforms and investments.
The programme introduces energy efficiency standards, establishes a revolving fund for SME financing, and also aims to attract private investment.
“ADB is honoured to support Cambodia in its ambitious and transformative journey in the energy sector. Through a comprehensive reform package, combining policy support with strategic investments, the Energy Transition Sector Development Programme will support turning the government’s ambitious vision into reality,” said ADB acting country director for Cambodia Anthony Gill. “This includes the goal of achieving 70 per cent renewable energy in the power mix by 2030, along with a strong commitment to advancing energy efficiency, which is essential to ensure that Cambodia’s growth remains both sustainable and affordable.”
Subprogramme 2 will be followed by a third phase in 2027, which will further deepen reforms by expanding the energy efficiency regulatory framework and introducing technical standards for renewable energy, buildings, and industry to further attract private sector investment.
Fibre2Fashion News Desk (RR)
Marvel makes big update on ‘X-Men ’97’ future
The Brewers keep winning, even when baseball logic says they shouldn’t
A New Algorithm Makes It Faster to Find the Shortest Paths
-
Tech1 week agoAI could make it easier to create bioweapons that bypass current security protocols
-
Tech1 week agoAmazon Prime Big Deal Days Is Next Week, but We Already Found 40 Early Deals
-
Tech1 week agoAll Hail the Surprisingly Versatile Packing Cube! These Are Our Favorites
-
Tech1 week agoAmazon is overhauling its devices to take on Apple in the AI era
-
Business7 days agoInvestors are packing up; Pakistan must ask why | The Express Tribune
-
Tech7 days agoCombat Dry Indoor Winter Air With a New Humidifier
-
Tech1 week agoThe Vision Pro Was An Expensive Misstep. Now Apple Has to Catch Up With Smart Glasses
-
Entertainment5 days agoHilaria Badlwin admits she takes parenting tips from step-daughter Ireland Baldwin