Key facts
- U.S. imports from Asian countries increased in June compared to the previous year.
- Retailers accelerated purchases to stock up ahead of anticipated tariff increases.
- The Trump administration imposed tariffs ranging from 10% to 12.5% on 60 trading partners.
U.S. imports from Asian countries surpassed year-earlier levels in June, as businesses accelerated purchases in anticipation of tariff increases. Retailers brought in more products to stock up ahead of a July tariff increase. The Trump administration imposed tariffs ranging from 10% to 12.5% on 60 trading partners after a flat 10% levy on all imports expired on July 24.