Shipments from China to the West Coast are poised to plunge by as much as 35% as President Donald Trump’s newly imposed tariffs prompt major American retailers to slash import orders, the executive director of the Port of Los Angeles said Tuesday.
Gene Seroka, who runs the nation’s largest port by container volume and cargo value, told CNBC’s “Squawk Box” on Tuesday that he expects a dramatic decline in incoming cargo volume next week, with projections showing a drop of more than a third compared to the same period in 2024.
“According to our own port optimizer, which measures the loadings in Asia, we’ll be down just a little bit over 35% next week compared to last year. And it’s a precipitous drop in volume with a number of major American retailers stopping all shipments from China based on the tariffs,” Seroka said.
However, some transport companies are seeking to offset losses by picking up goods at other points in Southeast Asia, Seroka noted.
“Realistically speaking, until some accord or framework can be reached with China, the volume coming out of there — save a couple of different commodities — will be very light at best,” he added.
Seroka estimated that companies have about five to seven weeks of full inventories remaining before shortages start to materialize.
“I don’t see a complete emptiness on store shelves or online when we’re buying. But if you’re out looking for a blue shirt, you might find 11 purple ones and one blue in a size that’s not yours,” Seroka said.
nypost.com
Gene Seroka, who runs the nation’s largest port by container volume and cargo value, told CNBC’s “Squawk Box” on Tuesday that he expects a dramatic decline in incoming cargo volume next week, with projections showing a drop of more than a third compared to the same period in 2024.
“According to our own port optimizer, which measures the loadings in Asia, we’ll be down just a little bit over 35% next week compared to last year. And it’s a precipitous drop in volume with a number of major American retailers stopping all shipments from China based on the tariffs,” Seroka said.
However, some transport companies are seeking to offset losses by picking up goods at other points in Southeast Asia, Seroka noted.
“Realistically speaking, until some accord or framework can be reached with China, the volume coming out of there — save a couple of different commodities — will be very light at best,” he added.
Seroka estimated that companies have about five to seven weeks of full inventories remaining before shortages start to materialize.
“I don’t see a complete emptiness on store shelves or online when we’re buying. But if you’re out looking for a blue shirt, you might find 11 purple ones and one blue in a size that’s not yours,” Seroka said.
Chief of major US port shares grim warning about Chinese shipments due to Trump tariffs
President Donald Trump’s newly imposed tariffs prompt major American retailers to slash import orders.
nypost.com
