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HONG KONG/NEW YORK -- Logistics companies handling U.S.-China trade have seen record volumes in recent months as importers rushed to stock up on goods ahead of the initial deadline for tariff rises.
U.S. President Donald Trump this weekend said he would delay a March 1 deadline to raise tariffs on $200 billion worth of Chinese imports to 25% from 10%, pending the outcome of trade talks with Beijing.
The news offered some relief to companies trading between the two countries, which had been boosting U.S.-China shipments to beat the clock on planned tariffs.
Ahead of the deadline delay, Hessel Verhage, chief executive of Chicago-based St. George Logistics, said his company's warehouses in New York and New Jersey were "bursting at the seams," with an 11% rise in China-inbound volumes from a year ago.