U.S.-bound imports see a slight June decline, reports S&P Global Market Intelligence

United States-bound imports of containerized freight saw a mild annual decline in June, after dropping 4.9% in May, according to data recently issued by S&P Global Market Intelligence.

The firm reported that June imports, at 2.65 million TEU (Twenty-Foot Equivalent Units), declined 0.8% in June, with the second quarter, at 8.02 million TEU, up 1.4% annually, following a 9.1% first quarter gain. Through the first six months of 2025, total imports came in at 16.16 million TEU, for a 4.6% annual gain.

S&P Global Market Intelligence said that June’s decline was driven by a 10.9% decline (and a 6.7% second quarter decline) in imports of capital goods, due to reduced investment activity. Materials imports saw a 2.7% increase, paced by front-loading in the forestry sector in advance of Section 232 tariffs, with metals falling, resultant of increased tariffs on steel and aluminum imports. The firm said imports of consumer durables were off 8.3%. And it said that consumer electronics and leisure goods were up 22.9% sequentially, they only came in 4.4% above April, whereas the 10-year average is 21.9%.

Looking at June import activity in other sectors, the firm reported the following:

• industrial machinery and electrical equipment fell 9.4% and 11.4%, respectively;
• chemicals and forestry imports rose 18.3% and 11.6%, respectively;
• metals fell 9.0%;
• consumer staples rose 6.2%, after a 1.1% May decline, paced by food and beverages posting a 10.4% annual gain and household and personal care imports up 6.5%;
• healthcare imports, which include medical supplies and pharmaceuticals, were down 4.2%, on the heels of a 6.8% May decrease; and
• consumer durables were down 8.3% in June and 0.9% in the second quarter, with home appliances and leisure products down 21.3% and 0.7%, respectively

Chris Rogers, Head of Supply Chain Research for S&P Global Market Intelligence said in an interview that over all these numbers point to an economy with some underlying—but not overwhelming—growth.

“Some sectors are doing better than others,” he said. “Capital goods are doing pretty badly, but that's partly because business investment is weak. And that's not just because of tariffs. That's because business investment has been weak for a little while. Consumer staples are doing better, particularly around food and household and that's partly just how people tend to spend their money.”

Addressing the impact of tariffs on imports, coupled with ongoing economic uncertainty, Rogers said it continues to impact beneficial cargo owners, or shippers. And with the July 9 expiration date for the White House’s reciprocal tariffs pushed to August 1, Rogers explained that was a factor in June import numbers being down.

And he added that there was an unseasonal tick up in some of the seasonal goods, with the expectation that the tariff pause deadlines were more likely than not going to be extended.

“That that was the bet,” he said. They've been extended from July 9 to August 1 and who knows whether they're going to be extended from August 1 to September 1?”

Looking out at the balance of 2025, for S&P Global Market Intelligence stated that U.S. imports are pegged to decrease 7.2% annually, driven by a 17.5% decline in imports from China, followed by 3.9% and 3.1% fourth quarter and first quarter declines, respectively. From that period on, it said that annual comparisons are expected to improve in the second quarter of 2026, led by a rebound in shipments out of ASEAN and Latin America, as shipments from China are expected to be down because of higher tariffs.