August trade volumes at the busiest container gateway in the US held near an all-time record set in July but are set to drop by 10% this month as President Donald Trump’s tariffs bite and trade war uncertainty continues to mount.
“We’ve already seen the peak of the peak,” Port of Los Angeles Executive Director Gene Seroka told reporters at a press conference on Wednesday. “I expect container volume to ease through the rest of the year, especially against last year’s unusually high comps.”
US importers rushed to bring in goods through the end of 2024 — well after the typical peak season — in a race to get ahead of Trump’s promised tariffs and avoid the risk of a strike at East and Gulf Coast ports. Gene Seroka, executive director of the Port of Los Angeles, says container volumes fluctuate depending on the state of President Trump’s tariff policy. (Source: Bloomberg)
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