Marcia Savage

0 shares Listen to article Port officials on the West Coast are bracing for a dramatic drop in cargo shipments as new U.S. tariffs on imported goods take effect. From Seattle to Los Angeles, trade data reports indicate sharp declines in cargo coming from Asia in May as companies cut imports in the wake of President Donald Trump’s tariffs.

0 shares Listen to article Dropshippers are scrambling for other suppliers as the U.S. moves closer to eliminating its de minimis exemption for imports worth less than $800 from China and Hong Kong. Termination of the loophole, included in a raft of tariffs and trade policies issues by the Trump Administration, is set to close for Chinese imports May 2. The end of de minimis threatens to take a big bite out of the profits of dropshippers who rely on Chinese suppliers.

With consumer confidence plummeting this year, shoppers are cutting back on all sorts of purchases—even those normally irresistible sweet and salty treats. Snack food sales are dropping as consumer products companies grapple with shifting consumption patterns. Major companies in the CPG industry are experiencing declining snack sales, including General Mills, which reported a 5% drop in net sales for its third quarter and lowered its outlook for the year.