Amid the impact from tariffs and ongoing trade policy uncertainty, year-over-year declines in import cargo volume seen at the nation’s major container ports in recent months are expected to continue in 2026, according to the most recent Global Port Tracker report by the National Retail Federation and Hackett Associates.
“Stores are stocked up and ready for a record holiday season but there is still a great deal of uncertainty about what will happen in 2026 with trade policy,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Regardless of what develops, retailers will adjust their supply chains accordingly and strive to ensure that consumers have affordable options when they shop.”
The administration has recently reduced tariffs on some food products, but the future of other tariffs imposed under the International Emergency Economic Powers Act rests with a challenge currently being considered by the Supreme Court. Even if the tariffs are struck down, the administration is likely to seek to reinstate them under other trade authorities.
The effect of rising tariffs on global trade is unlikely to end soon, Hackett Associates Founder Ben Hackett said.
“We are seeing the results of the tariffs in weakening cargo demand going forward from the fourth quarter of this year and likely into the first half of next year,” Hackett said. “Container shipping rates are already declining on both coasts due to less need for cargo space for goods from both Asia and Europe.”
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The developments come as NRF is forecasting record holiday sales of over $1 trillion for the first time, up between 3.7% and 4.2% over 2024.
U.S. ports covered by Global Port Tracker handled 2.07 million Twenty-Foot Equivalent Units — one 20-foot container or its equivalent — in October, although the Port of Charleston has not yet reported its data. That figure was down 1.8% from September and down 7.9% year over year.
Ports have not yet reported numbers for November, but Global Port Tracker projected the month at 1.91 million TEU, down 11.6% year over year. December is forecast at 1.86 million TEU, down 12.7%. Following July’s peak of 2.39 million TEU, November and December would be the slowest months of the year. And December would be the slowest month since 1.83 million TEU in June 2023.
November and December are traditionally slow, but the large year-over-year declines are partly because imports in late 2024 were elevated by concerns over port strikes. In addition, many retailers imported cargo earlier than usual this year to avoid tariffs.
The first half of 2025 totaled 12.53 million TEU, up 3.7% year over year. The full year is forecast at 25.2 million TEU, down 1.4% from 25.5 million TEU in 2024.
Cargo is expected to see its first month-over-month increase in six months in January, which is forecast at 2 million TEU but would still be down 10.3% year over year. February is forecast at 1.86 million TEU, down 8.5% year over year; March at 1.79 million TEU, down 16.8%, and April at 1.97, down 10.9%.
Global Port Tracker, which is produced for NRF by Hackett Associates, provides historical data and forecasts for the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast. The report is free to NRF retail members, and subscription information is available at NRF.com/PortTracker or by calling (202) 783-7971. Subscription information for non-members can be found at www.globalporttracker.com.
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