US imports drop in August as expected, but they’re still very high
- August imports fell 4% vs July, according to Descartes; NRF estimates a month-on-month decline of 3%
- NRF still predicts a significant pullback in final four months of the year, but not as steep of a drop as it did a month ago
- US Supreme Court agrees to hear appeal on IEEPA tariffs, with oral arguments to be held in first week of November
US imports declined in August versus July, however, this is not unusual and the drop was small. Predicted volume fallout from tariffs is expected to ramp up in September-December