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The number of shipping containers carrying U.S. imports fell for a second straight month, putting the economic indicator on course for one of the sharpest year-on-year reversals on record.

U.S. officials signaled that trading partners will have until Aug. 1 before the tariffs kick in. Trading partners face a July 9 deadline to reach a deal.

Global merchandise trade accelerated in the World Trade Organization’s latest assessment, with a surge in imports tied to tariff stockpiling outweighing a slowdown in export orders.

Hapag-Lloyd is seeing a jump in business after the U.S. and China lowered tariffs, the company’s CEO said, as the trade war ceasefire unleashes a wave of pent-up demand for shipping.

Spot container rates for shipping goods to the U.S. from Asia have spiked over the past month as companies look to avoid higher tariffs and pad their inventories ahead of a threatened port strike.

The world’s No. 2 container carrier urged customers to remove cargo from East and Gulf Coast ports in the U.S. to avoid the possible strike.

Global goods trade in 2025 will grow less then initially forecast, the World Trade Organization said, as rising instability weighs on economic activity and threatens to disrupt shipping.

The world’s top container carrier is urging customers to move U.S. cargo through East and Gulf Coast ports before the planned start on Oct. 1 of a dockworkers strike.

Global merchandise trade is recovering from last year’s slump, the World Trade Organization said, as one of its barometers for activity rose further above the longer-term average pace.

The global container shipping industry saw profits surge to more than $10 billion in the second quarter on record volumes and rising freight rates after Red Sea diversions.