The Port of Los Angeles is beginning to feel the pinch from the US-China trade war, according to the transport hub’s executive director Gene Seroka.
The port moved 770,189 TEUs in October, a 19.1 per cent decline on its record-breaking October 2018 performance. Imports decreased 19.1 per cent to 392,768 TEUs compared to the previous year, while exports declined 19.3 per cent to 140,332 TEUs. It was the 12th consecutive monthly decline in export volumes.
“With 25 per cent fewer ship calls, 12 consecutive months of declining exports and now decreasing imports, we’re beginning to feel the far-reaching effects of the US-China trade war on American exporters and manufacturers,” said Seroka.
“We expect soft volumes in the months ahead and with the holiday season upon us, less cargo means fewer jobs for American workers. We need a negotiated settlement and the tariffs lifted.”
Despite the decline in exports, total volumes passing through the port have increased 1.8 per cent over the first 10 months of 2019, compared to last year.