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Port of Los Angeles tariffs take toll on October volumes
The Port of Los Angeles moved 770,189 Twenty-Foot Equivalent Units (TEUs) in October, a 19.1% decrease compared to 2018’s record-breaking October. After 10 months of 2019, total volumes have increased 1.8% compared to last year, which was the busiest year ever at America’s top port.
“With 25% fewer ship calls, 12 consecutive months of declining exports and now decreasing imports, we’re beginning to feel the far-reaching effects of the U.S.-China trade war on American exporters and manufacturers,” said Port of Los Angeles Executive Director Gene Seroka. “We expect soft volumes in the months ahead and with the holiday season upon us, less cargo means fewer jobs for American workers. We need a negotiated settlement and the tariffs lifted.”
In October 2018, cargo owners were importing cargo at a record pace to get ahead of expected tariffs. This October, imports decreased 19.1% to 392,768 TEUs compared to the previous year. Exports declined 19.3% to 140,332 TEUs, the 12th consecutive monthly decline of exports. Empty containers also declined 19% to 237,088 TEUs. Combined, October volumes were 770,189 TEUs.