The Port of Los Angeles, one of the largest import gateways in the U.S., has issued a warning that the recent reduction in tariffs on Chinese goods may not be enough to reverse the declining cargo volume.
What Happened: Cargo volumes at the Port of Los Angeles have been on a downward trend. To avoid new tariffs, companies previously stockpiled inventory but have since halted or canceled new orders, prompting shipping firms to cancel numerous upcoming sailings, as per report from the Wall Street Journal.
The port’s executive director, Gene Seroka, predicts a 25% year-over-year drop in imports for May. He remains doubtful that the recent tariff reduction from 145% to 30% on Chinese imports will …
Full story available on Benzinga.com
The Port of Los Angeles, one of the largest import gateways in the U.S., has issued a warning that the recent reduction in tariffs on Chinese goods may not be enough to reverse the declining cargo volume.
What Happened: Cargo volumes at the Port of Los Angeles have been on a downward trend. To avoid new tariffs, companies previously stockpiled inventory but have since halted or canceled new orders, prompting shipping firms to cancel numerous upcoming sailings, as per report from the Wall Street Journal.
The port’s executive director, Gene Seroka, predicts a 25% year-over-year drop in imports for May. He remains doubtful that the recent tariff reduction from 145% to 30% on Chinese imports will …
Full story available on Benzinga.com
The Port of Los Angeles, one of the largest import gateways in the U.S., has issued a warning that the recent reduction in tariffs on Chinese goods may not be enough to reverse the declining cargo volume.
What Happened: Cargo volumes at the Port of Los Angeles have been on a downward trend. To avoid new tariffs, companies previously stockpiled inventory but have since halted or canceled new orders, prompting shipping firms to cancel numerous upcoming sailings, as per report from the Wall Street Journal.
The port’s executive director, Gene Seroka, predicts a 25% year-over-year drop in imports for May. He remains doubtful that the recent tariff reduction from 145% to 30% on Chinese imports will …Full story available on Benzinga.com Read Morebenzinga neuro, Gene Seroka, Imports, News, Port of Los Angeles, shipping rates, tariffs, trade deal, us china, Markets, News, Markets, Benzinga Markets
