The Port of Los Angeles experienced an 8% increase in year-over-year imports in June, marking its busiest month ever with 892,000 container units. Despite this rebound from a 9% drop in May, Executive Director Gene Seroka cautioned that the increase is likely a result of businesses stockpiling to avoid impending tariffs. The import surge aligns with a temporary tariff pause and a slight easing of trade tensions with China. However, Seroka anticipates a decrease in shipping volumes moving forward, particularly as August approaches and major trade deadlines loom.
"While record-setting volume is welcome news, it also highlights the tariff whipsaw effect that we've mentioned before," Seroka told reporters in a press briefing on Monday.
The pull forward in shipping volumes is likely a result of Trump's 90-day tariff pause in April and a deescalation of a trade war with China in which tariffs on the country's exports fell to 30%.
Seroka said he expects the wave of shipments to ease again in August, representing the conclusion of a flurry of shipment orders in preparation for the busy holiday shopping season.
Executive Director Gene Seroka warned the spike is reflective of stockpiling activities from companies trying to dodge tariff deadlines.
Collection
[
|
...
]