Home / Shipping / Aviation/ Imports to busiest US seaport complex fall 6% in May

Imports to busiest US seaport complex fall 6% in May


Comments / {{hitsCtrl.values.hits}} Views / Monday, 24 June 2019 00:00

Facebook

LOS ANGELES, REUTERS: The Los Angeles and Long Beach port complex - the No. 1 hub for U.S. ocean trade with China - processed 6.3% fewer inbound cargo containers in May, signaling that the escalating U.S.-China trade war is roiling business activity. 

Exports from the California seaport complex, the nation’s busiest, fell 7.4% year-on-year, the two ports said. 

U.S. companies ranging from retailers to manufacturers stockpiled goods before Washington and Beijing began slapping tariffs on imports last year. The May decline comes at a time when importers are typically ramping up for the peak shipping season that brings in goods for the winter holidays. 

“Escalating tariffs have pushed retailers to order goods early, warehouses are brimming with inventory as a result, and in response, ocean carriers are managing their vessels to deal with reduced demand,” said Mario Cordero, executive director at the Port of Long Beach, where imports fell 19.5% versus May 2018, more than offsetting a 5.5% increase in imports at the larger Port of Los Angeles. 

The Trump administration escalated the trade conflict in May, announcing a tariff hike on $200 billion of Chinese products. China retaliated with tariffs on $60 billion of U.S. goods. 

President Donald Trump has also threatened to hit China with tariffs on “at least” a further $300 billion worth of Chinese goods. 

That threat may have spawned another trade bump. 

China’s exports unexpectedly returned to growth in May - rising 1.1% and prompting speculation that Chinese exporters rushed out shipments to avoid the new U.S. tariffs. 

It typically takes about 10 to 14 days for cargo ships to make the trip directly from China to the U.S. West Coast. Many ships call at multiple ports before crossing the ocean, adding weeks to the trip.


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

“Sri Lanka’s future lies in producing exportable manufactured goods”: Dr. Howard Nicholas

Monday, 22 July 2019

Drawing lessons from Vietnam’s experiences The Sri Lanka-born economist attached to The Hague based Institute of Social Studies – Dr. Howard Nicholas – addressing a packed audience consisting of the alumni of the Postgraduate Institute of Manag


We should sell our water

Monday, 22 July 2019

When you read the title of this article, you will probably feel disgusted with me as selling our water has been a controversial topic since a long time ago. By the way, I am talking about virtual water trade and you would be surprised to know that we


A voice of compassion amid howls of zealotry

Monday, 22 July 2019

The unrestrained freedom extended by the current regime to a bunch of saffron-clad street vendors of Sinhala Buddhist zealotry is pushing Sri Lanka once again into a cauldron of ethnic and religious convulsion. The nationwide spread and virulence of


Roger Beteille: The man who reinvented the commercial airliner

Monday, 22 July 2019

The visionary engineer, pilot and manager who led Airbus to some its most significant decisions, passed away last month. Beteille, who was the head of French aircraft manufacturer Sud Aviation’s flight testing section, was made technical director


Columnists More