LOS ANGELES/BEIJING, Jan 15 (Reuters) - U.S. imports from China surged at the end of the year as companies accelerated shipments of various goods like apparel, toys, furniture, and electronics to brace for potential new tariffs set by the incoming President, a move that could reignite a trade conflict between the two global economic giants.
President Trump, who has threatened tariffs ranging from 10% to 60% on Chinese goods, will assume office on Jan. 20. In his previous term, Trump predominantly aimed at Chinese components and parts. However, experts anticipate that the upcoming tariffs may target finished products.
Frederic Neumann, HSBC's chief Asia economist in Hong Kong, noted a rise in the export of final goods from China to the U.S. in response to the looming threat of tariffs on consumer items.
Chinese trade officials recently expressed concerns about escalating trade protectionism in the U.S. and Europe as trade volumes hit record highs.
Data from Descartes Systems Group revealed a significant increase in imports from China to U.S. seaports in December, amounting to an equivalent of 451,000 40-foot containers, marking a 14.5% year-over-year growth.
Throughout the year, U.S. imports from China saw a notable increase in products like bedding, plastic toys, machinery, and others, rising by 15% compared to 2023, as reported by Descartes.
While some U.S. businesses rushed in goods to dodge potential tariff impacts, accurately gauging the true effect on overall import increases remains challenging due to the private nature of such data. Additionally, factors such as resilient U.S. consumer demand, stockpiling to navigate disruptions, and geographical considerations complicate the analysis.
Trump's trade actions also affected other trade partners, including Mexico and Canada.
Overall, various categories of U.S. imports from all regions saw substantial growth in the fourth quarter, with textiles and apparel, leisure products (mainly toys), home furnishings, household appliances, and consumer electronics showing notable gains. Moreover, consumer staples categories such as household and personal care, as well as food and beverages, also saw significant increases, according to S&P Global Market Intelligence.