LA port official warns cargo volume will plummet 35% next week as tariffs bite

Shipping containers at Terminal at the Port of Los Angeles in File photo by Mike Blake Reuters The Port of Los Angeles is expecting a drop in cargo from Asia next week the facility s executive director mentioned in a CNBC interview on Tuesday It s a precipitous drop in volume with a number of major American retailers stopping all shipments from China based on the tariffs stated Gene Seroka Seroka declared retailers have reported him they have just a six- to eight-week supply of inventory at this point He revealed that until particular accord or framework is reached with China the volume coming out of that country except for specific commodities would be very light at best United States consumers and manufacturers alike will find complex decisions in the weeks and months to come if policies don t change Seroka reported The adjacent ports of Los Angeles and Long Beach are the busiest container ports in the Western Hemisphere and are the preferred entry gates for goods from China Reuters contributed to this summary