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Tariff Ruling May Spur Cargo Surge at Port of Los Angeles
Port Leader Seroka Says Lower Effective Rates Could Speed Imports as Exports Continue to Decline
The Supreme Court’s decision on President Donald Trump’s sweeping tariffs may drive up cargo volume, Port of Los Angeles Executive Director Eugene Seroka said.
“If that effective tariff rate for some companies and importers is lower, we may see some cargo really shoot through the system pretty quickly,” he said in a Bloomberg Television interview.
While import patterns have fluctuated based on trade policy announcements, exports have consistently suffered, with shipments to China dramatically reduced. The head of the nation’s busiest container gateway cited an 80% drop in soybean shipments from his port, adding that exports have declined in nine of the past 13 months.
Trump’s new10% global tariffswent into effect Feb. 24, kicking off an effort to preserve his trade agenda after the court decision. The White House is working on a formal order that will increase the global tariff rate to 15%, according to an administration official.
