By Juveria Tabassum
(Reuters) -Imports into the United States fell more than expected in June as concerns around shifting tariff policies hit retailers, raising fears of fewer product options in stores for shoppers, data from the National Retail Federation showed on Friday.
WHY IT’S IMPORTANT
The data comes as several of U.S. President Donald Trump’s sweeping tariffs went into effect this week. As of August 7, duties range from 10% to 50%, with India, Brazil, and Switzerland facing some of the highest rates.
Since April’s “Liberation Day” announcement of a 10% baseline tariff, Trump has adjusted rates frequently. A temporary truce with China in May reduced tariffs to 30%, but new hikes resumed in July.
BY THE NUMBERS
U.S. ports covered by NRF’s report handled 1.96 million 20-foot con