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Port of Los Angeles says shipping volume will plummet 35% next week as China tariffs start to bite
Shipments from China to the west coast of the U.S. will plummet next week as the impact of President Donald Trump’s tariffs leads companies to cut their import orders. Gene Seroka, the executive director of the Port of Los Angeles, said Tuesday on CNBC’s “Squawk Box” that he expects incoming cargo volume to slide by more than a third next week compared to the same period in 2024. “According to our own port optimizer, which measures the loadings in Asia, we’ll be down just a little bit over 35% next week compared to last year. And it’s a precipitous drop in volume with a number of major American ... (full story)
