Is the U.S. Import Boom Real?

A record July may say more about timing than demand.

U.S. imports are heading for a record July.

Global Port Tracker expects 2.5m TEU, above the previous high of 2.4m TEU set in May 2022.

But much of that strength may be cargo pulled forward before expected tariff increases.

Imports are then forecast to fall to 2.2m TEU in August and 2.0m TEU in September.

The first half is still expected at 12.8m TEU, just 2% above last year.

So is July showing stronger demand—or simply borrowing cargo from autumn?

The timing problem