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nationwide export slumpCNBC
•Business
Business & Economics
77% Informative
As businesses cancel orders from China , U.S. imports continue to plummet, with a 43% week-over-week drop in containers through April 28 .
Nearly all export market products have taken a hit, with agriculture the hardest hit.
The slide in exports is linked to the decline in containerships coming to the United States , as businesses cancel manufacturing orders, sending Chinese factories and freight ships into retreat.
Hawaii -based freight liner operator and shipowner Matson lowered its 2025 outlook on Monday .
Matson CEO: "It's difficult to know if these lower volume levels are transitory or will persist for a longer time in 2025 " Since the tariffs were implemented in April , container volume for the company has declined approximately 30% year over year .
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