The US imports have surged as the retailers are stockpiling in view of the COVID resurgence situation.
In August, we had analyzed that the US was undergoing an inventory reduction phase and we were correct in our analysis.
http://sg-stock.blogspot.com/2020/08/how-do-you-interpret-ppi-vs-cpi-and.html
Then, in September, we concluded that the US would end its inventory reduction phase after our PMI analysis.
http://sg-stock.blogspot.com/2020/09/the-us-ism-pmi-improved-again-in-august.html
The US retailers' stockpiling have corroborated our PMI analysis that the US inventory reduction phase would end soon.
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