Ships carrying the first Chinese goods subject to the highest tariffs imposed by the Trump Administration have started to arrive in L.A.
Gene Seroka, the Executive Director of the Port of Los Angeles stated, “This week, we’re down about 35% compared to the same time last year, and these cargo ships coming in are the first ones to be attached to the tariffs that were levied against China and other locations last month. That’s why the cargo volume is so light.”
Experts anticipate that the U.S. will start to experience product shortages within weeks as imports slow down.
Seroka reports that 80 ships were expected in May, but 20% have been canceled. The Director also noted that customers have already canceled 13 sailings for June. “And you still don’t know how long this is going to last.”
“Retailers and importers alike are telling me that the products now cost about two and a half times more than they did just last month.” Seroka said.
By CEO NA Editorial Staff
