New tariffs are putting increased pressure on international trade — and beginning to drive up consumer prices

Import cargo volume at the nation’s major container ports is tentatively expected to end 2025 more than 5% (5.6%) below 2024’s volume, according to the latest Global Port Tracker report released by the National Retail Federation and Hackett Associates. The forecast comes as tariffs on dozens of countries around the world that had been announced, postponed and then finally enacted after months of negotiations and deals began to take effect last week.

“While this forecast is still preliminary, it shows the impact the tariffs and the administration’s trade policy are having on the supply chain,” said Jonathan Gold, VP for supply chain and customs policy, NRF. “Tariffs ar

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