There aren’t shortages of goods in U.S. stores yet, but if the deterioration in global shipping is any indication, they are on the way. That could complicate the White House’s pleas for Americans to be patient as trade officials rush to strike dozens of deals.
Cargo has dropped, or is expected to, at major ports including those of Los Angeles; Long Beach, Calif.; and New York-New Jersey, primarily on shipments from China, which exports more than any other country to the U.S.
U.S. import booking volumes have dropped 35% since late March, according to the shipping data company Vizion, including a 26% drop between the week ended April 21 and the following week. Shipments from China dropped nearly 43% in the last full week of April, the sharpest decline of the year. During April, several weeks saw China import bookings down by more than half, Vizion said.
The potential impact on companies and consumers is broad. Imports of Chinese electronics, plastics, vehicles, steel, and textiles have all fallen by more than half.
Perhaps just as concerning for some farmers and
