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NRF Says Holiday Season Was a Notable Success as ‘Consumers Came Out to Spend’
Data released today by the U.S. Census Bureau shows that core retail sales during the 2024 holiday season grew an unexpectedly high 4% over 2023 to a record $994.1 billion, coming in ahead of the National Retail Federation’s forecast, NRF said. Sales for the full year grew 3.6% over 2023 to a record $5.28 trillion.
“Consumers came out to spend this holiday season and clearly underscored the solid growth in the US economy,” NRF Chief Economist Jack Kleinhenz said. “The spending...
Import Cargo Rising as Higher Tariffs and Potential Port Strike Approach
With a strike possible again next month at East Coast and Gulf Coast container ports and President-elect Donald Trump planning to increase tariffs, the nation’s major container ports are expected to see a continued surge in imports through next spring, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Either a strike or new tariffs would be a blow to the economy and retailers are doing what they can to avoid the impact of...
2024 Presidential Election Poised to Reshape U.S. Commodity Markets
As the 2024 Presidential Election quickly approaches, industry stakeholders are closely watching how the outcome could impact commodity markets, which are sensitive to shifts in policy and federal regulations.
When the new president takes office, businesses and consumers may see changes to key issues like trade and foreign policy. Stay tuned to Expana for continuous updates on how the election may affect agricultural and industrial markets.
Presidential Impact on International Trade
Changes in U.S. trade relations could either strengthen or disrupt markets for agricultural exports...
Biden-Harris Administration Delivers Over $26.7 Billion In Market Access for U.S. Agriculture
The Office of the United States Trade Representative (USTR) and the United States Department of Agriculture (USDA) today announced that the Biden-Harris Administration has secured over $26.7 billion in agricultural market access across the globe for America’s farmers, ranchers, fishers, and food manufacturers. Under President Biden and Vice President Harris’s leadership, United States Trade Representative Katherine Tai and Secretary of Agriculture Tom Vilsack have worked to ensure American agriculture can reach global markets and customers around the world...
USDA Releases Updated Guideline to Strengthen Substantiation
The U.S. Department of Agriculture (USDA) announced today the availability of an updated guideline that makes recommendations to strengthen the documentation that supports animal-raising or environment-related claims on meat or poultry product labeling. Today’s action builds on the significant work USDA has already undertaken to protect consumers from false and misleading labels and to implement President Biden’s Executive Order on Promoting Competition in the American economy.
“USDA continues to deliver on its commitment to fairness and choice for both farmers and consumers, and that means supporting transparency and high-quality standards...
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