U.S. imports from China have been strong this year as some companies stocked up on clothing, toys, furniture and electronics ahead of plans by President-elect Donald Trump to impose new tariffs that could restart a trade war between the world’s economic superpowers.

Trump will take office as President of the United States on January 20 and threatens to impose tariffs of 10% to 60% on Chinese goods. Trump mainly targeted Chinese components during his first term. Economists and trade experts predict his next wave of tariffs could apply to manufactured goods.

“China’s final product exports to the United States have increased as importers aim to get ahead of possible tariffs on consumer goods,” said Frederic Neumann, chief Asia economist at HSBC in Hong Kong.

Chinese exports surged to a record in December, trade officials said on Monday.

Lu Daliang, spokesman for China’s General Administration of Customs, told a news conference in Beijing that the sharp rise partly reflected concerns about escalating trade protectionism.

U.S. seaports handled the equivalent of 451,000 40-foot containers of cargo from China in December, a 14.5% increase from a year earlier, according to trade data provider Descartes Systems Group.

Descartes said that U.S. imports of bedding, plastic toys, machinery and other products from China will increase by 15% this year compared with 2023.

Helen of Troy Ltd, sellers of OXO kitchen appliances, Hydro Flask water bottles and Vicks over-the-counter medicines, contributed to the growth. Executives said on an earnings call last week that the company has been building strategic inventory aimed at reducing tariff exposure.

“We’re still a few days away from the inauguration. I think we’ll get a lot more clarity once President-elect Trump takes office,” Trojan CEO Noel Geoffroy said of the U.S. said the new tariff policy.

MSC Industrial Direct, a distributor of tools, electrical and plumbing supplies, sources about 10% of its inventory from China. Executives told investors last week that the company was stocking up on its most popular products that might be at risk from new tariffs, while running promotions targeting U.S.-made goods.

With companies closely watching trade data, it’s difficult to tease out the true impact of the risk of Trump’s tariffs on overall import earnings.

Demand is elastic

Complicating the analysis, resilient U.S. shoppers have been fueling demand. Some importers have also introduced safety stocks to prevent Houthi attacks on shipping near the Suez Canal trade shortcut, as well as labor disputes at U.S. East Coast and Gulf of Mexico seaports.

At the same time, Trump has also threatened to impose tariffs on goods from many other countries, including North American neighbors, Mexico and Canada.

Walmart, the largest user of container shipping, is among the retailers that freight data analysts say have increased imports in recent months. Walmart did not comment on the assessment.

Data from S&P Global Market Intelligence showed that U.S. imports from all geographic sources saw significant growth in several product categories in the fourth quarter.

Textiles and apparel rose 20.7%; leisure products, mainly toys, rose 15.4%; household goods increased 13.4%; and household appliances and consumer electronics rose 9.6% and 7.9% respectively, according to Standard & Poor’s data.

Consumer staples categories such as home and personal care and food and beverages rose 14.2% and 12.5%, respectively, S&P said.

Michael O’Shaughnessy, chief executive of Element Electronics Corp, said there was a rush to ship goods to the United States at the end of the year.

Element imports components primarily from China for its flat-screen TV assembly plant in Winnsboro, South Carolina—the last major TV production plant in the United States. It also imports finished TV sets. The company built up buffer stocks when longshoremen threatened to close the East Coast ports it used.

However, O’Shaughnessy said there is a limit to the input he is willing or able to bring.

“There’s no place to put everything,” he said. “Additionally, there are working capital constraints. It’s costing you money every day it’s sitting there.”