US Imports Rise in April, California's Port Dominance Slips, and Poor Service Threatens Ag Export Recovery.

US imports are rising off their lows, with monthly imports now either at or above 2019 levels, depending on which data source you use. Several ports saw large month-on-month import gains in April, with imports from China bouncing back up to 36.8% in April from just 31.6% in March. However, the National Retail Federation struck a more cautious note, highlighting the declines versus the 2021-22 peak, the uncertainties ahead, and a reduced outlook for peak season.