“During the first half of 2025, volumes at the nine largest US container ports grew by 1.7% year-over-year to 16.9 million TEU. Import volumes grew 4.3%, influenced by preloading in anticipation of
“During the first half of 2025, volumes at the nine largest US container ports grew by 1.7% year-over-year to 16.9 million TEU. Import volumes grew 4.3%, influenced by preloading in anticipation of tariff increases, while export volumes declined by 4.2%,” said Niels Rasmussen, Chief Shipping Analyst at BIMCO.
The Budget Lab at Yale reported that the effective US tariff rate was 2.4% in January 2025 before subsequent tariff increases raised it to 3.7% in February, 8.9% in March, and 26.0% in April following the “Liberation Day” announcement. Later, reductions and implementation delays brought the effective import tariff rate down to 21.1% in May and 15.7% in June.
“Import volume growth during the first half reflected changes in tariff rates, with the use of bonded and free zone warehouses allowing some importers to avoid higher tariffs. Import volume rose 10.0% year-over-year in the first four months but declined 6.2% during May and June," he added.
US West Coast ports benefitted most from preloading early in the year and saw a 14.4% year-over-year increase in import volumes during the first four months. However, the ports also suffered most from the subsequent volume correction as volumes declined 9.2% year-over-year in May and June
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