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July 20 2020

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Spotlight 6 The Journal of Commerce | July 20 2020 www.joc.com Coming about The share of US imports from Asia sourced from China jumped to an eight-month high in May as US retailers rushed back to China for inventory replenishment once the country's factories had fully reopened following widespread closures linked to the COVID-19 pandemic. The recapture of market share for China shows how difficult it will be for US importers to shi sourcing to South- east Asia to any significant extent, something that has been attempted during the two-year-old United States–China trade war. Retailers con- tinue to rely on factories in China for the majority of their merchandise imports. "They say they've got to get out of China, but it will take years," said Paul Bingham, director of transportation consulting at IHS Markit, parent company of The Journal of Commerce. The share of Asia exports to the US sourced from China climbed nearly 8 percentage points in April, to 64.8 percent in May from 56.9 percent, according to PIERS, a sister company of The Journal of Commerce within IHS Markit. That's the highest share since 65.5 percent in September 2019. The share of Southeast Asia imports declined to 20.9 percent in May from 25 percent in April. US imports from Asia overall are still down considerably from last year due to the economic devastation caused by the coronavirus disease 2019 (COVID-19). Total imports from Asia declined 18.5 percent year over year in May, with volumes from China falling 18 percent and shipments from Southeast Asia dropping 15.3 percent, according to PIERS. Shutterstock.com The Journal of Commerce Executive Editor, The Journal of Commerce and JOC Events: Chris Brooks 609 649 2181, chris.brooks@ihsmarkit.com Executive Editor, The Journal of Commerce and JOC.com: Mark Szakonyi 202 872 1234, mark.szakonyi@ihsmarkit.com Managing Editor: Benjamin Meyer 916 716 6272, benjamin.meyer@ihsmarkit.com Associate Managing Editor: Kevin Saville, 212 488 4282, kevin.saville@ihsmarkit.com. Senior Editors: William B. Cassidy Trucking and Domestic Transportation 202 872 1228, bill.cassidy@ihsmarkit.com Bill Mongelluzzo, West Coast 562 428 5999, bill.mongelluzzo@ihsmarkit.com Eric Johnson, Technology 213 444 9326, eric.johnson@ihsmarkit.com Janet Nodar, Breakbulk and Heavy Li 251 473 2742, janet.nodar@ihsmarkit.com Greg Knowler, Europe +44 7976798770, greg.knowler@ihsmarkit.com Turloch Mooney, Global Ports +852 9011 9109, turloch.mooney@ihsmarkit.com Ari Ashe, Southeast Ports, Intermodal Rail 202 548 7895, ari.ashe@ihsmarkit.com Data Analyst: Marcin Lejk , +44 58 741 6270, marcin.lejk@ihsmarkit.com Shipper Engagement Manager: Dustin Braden, 646 679 3450, dustin.braden@ihsmarkit.com Senior Editor, Special Projects: Alessandra Gregory Barrett, 860 248 5238 alessandra.barrett@ihsmarkit.com Associate Editor, Special Projects: Emily DeVoti, emily.devoti@ihsmarkit.com Senior Designer: Sue Abt, sue.abt@ihsmarkit.com Associate Production Manager: Kate Binder, 603 346 4680, kate.binder@ihsmarkit.com Designer: Hannah Kidd, +44 203 253 2134, hannah.kidd@ihsmarkit.com Sales: Cindy Cronin, Associate Director Southeast sales, 954 260 6061 Jean Gibbons, Senior Sales Executive West Coast sales, 706 469 7160 John Knowles, Senior Sales Executive EMEA sales, +44 777 997 4677 Allyson Marek, Senior Sales Executive Northeast sales, 862 754 8012 Alex Remstein, Associate Sales Specialist Reprints/Classifieds/Copyrights, 646 679 3418 Mehdi Smaili, Senior Sales Executive APAC sales, +44 758 140 6491 Judy Welp, Senior Sales Executive Midwest sales, +1 512 284 2878 For Magazine Subscription Customer Service: www.joc.com/help 450 West 33rd St., 5th Floor, New York, N.Y. 10001 800 952 3839 Vice President, Maritime & Trade, IHS Markit, Peter Tirschwell Executive Director, Media & Events, Maritime & Trade, IHS Markit, Amy Middlebrook Manager, Production, Carmen Verenna Product Manager, JOC, Stephen Lyman ©2020 The Journal of Commerce — All Rights Reserved For more information, visit our website, www.joc.com. 61.5% 62.3% 61.5% 61.5% 56.7% 42.2% 56.9% 64.8% 23.5% 22.7% 23.3% 23.8% 26.9% 33.6% 25.0% 20.9% 15.1% 15.0% 15.2% 14.7% 16.4% 24.2% 18.0% 14.3% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Oct-19 Nov- 19 Dec- 19 Jan- 20 Feb-20 Mar-20 Apr-20 May- 20 US imports China US imports from Southeast Asia US imports North Asia excluding China US importers turn back to China as factories reopen Source: IHS Markit © 2020 IHS Markit TEU market share of monthly volume of US imports from Asia among selected regions

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