November brought some telling numbers from America's busiest seaport. Import volumes dropped 11.5%, a sharp slide that port executives are linking directly to tariff pressures. What's happening here matters beyond just shipping and logistics—these kinds of trade contractions typically ripple through financial markets as businesses tighten spending and adjust supply chains. For anyone tracking market cycles, this kind of macroeconomic headwind is worth monitoring. When imports slow, it often signals broader economic caution, which historically influences risk appetite across all asset classes. The timing here coincides with growing concerns about trade policy impacts on consumer prices and corporate earnings.