The Port of Oakland reported a 10.1% decline in shipping volume in June, potentially signaling a significant shift in the shipping economy influenced by international tariffs. Longshoremen union leaders expressed worries about the risk of reduced hours for lower-tier workers. Although the port saw a year-over-year increase of 0.6% due to prior inventory shipments before tariffs took effect, officials anticipate that the situation may deteriorate as tariffs continue to impact trade, particularly with China, a key trade partner.
The Port of Oakland experienced a significant 10.1% decrease in shipping volume in June, indicating potential long-term changes in the shipping economy due to tariffs.
Longshoremen union leaders express concerns over potential job losses for the lowest-tier workers as shipping volume declines, emphasizing the possible economic impact of tariffs.
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