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  • 2 days ago
The Port of Los Angeles recorded its busiest June in history, driven by a spike in ocean freight as importers rushed to avoid upcoming tariffs on Chinese goods, according to CNBC. Port officials described the increase as a “tariff whipsaw effect” caused by shifting trade deadlines under President Trump’s policies. Containers were largely filled with holiday and consumer goods, following Trump’s tariff cut on Chinese imports. Port of LA Executive Director Gene Seroka said shifting tariff timelines are causing unstable freight volumes and increased uncertainty. He expects cargo volume to decline starting in August due to new tariffs, citing forecasts of a double-digit drop through November. Freight firms report that retailers are now limiting imports to essentials, such as school supplies, citing longer transit times and costlier air freight for last-minute needs.

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00:00It's Benzinga, bringing Wall Street to Main Street
00:02The Port of Los Angeles recorded its busiest June in history,
00:06driven by a spike in ocean freight as importers rushed to avoid upcoming tariffs on Chinese goods,
00:10according to CNBC. Port officials described the increase as a tariff whipsaw effect,
00:16caused by shifting trade deadlines under President Trump's policies.
00:19Containers were largely filled with holiday and consumer goods,
00:22following Trump's tariff cut on Chinese imports.
00:25Port of LA Executive Director Gene Sirocco said shifting tariff timelines
00:29are causing unstable freight volumes and increased uncertainty.
00:33He expects cargo volume to decline starting in August due to new tariffs,
00:37citing forecasts of a double-digit drop through November.
00:40Freight firms report retailers are now limiting imports to essentials like school supplies,
00:44citing longer transit times and costlier air freight for last-minute needs.
00:48For all things money, visit Benzinga.com.

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