US companies importing goods from China…

NYP REPORTED: US companies importing goods from China are facing a sharp increase in shipping costs as they rush to beat the expiration of a 90-day tariff reprieve. Major carriers, including Hapag-Lloyd, will raise rates for a 40-foot container from China to West Coast ports from $3,500 to $6,500 starting June 1, 2025. This spike is expected to drive up prices on store shelves, according to industry sources.