Shipping rates from China to North America are surging—up $400 on the East Coast and over $1,300 on the West Coast since July—despite weaker import demand. The culprit? Weather chaos: typhoons in the western Pacific, fueled by a strong El Niño, are jamming ports like Shanghai and Ningbo. Meanwhile, drought-stricken Panama Canal is limiting cargo loads, adding future pressure. While retail forecasts now expect steady demand through September (not the usual summer dip), bookings are already hinting at another spike. It’s not about consumer frenzy—it’s supply chain turbulence driving the cost spike.
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