Based on the data shared by the Port of Long Beach, cargo has declined due to continuing tariffs. It dropped to 3.5% last month. This was after the month of September hit a cargo record at 706,956 twenty-foot equivalent units (TEU’s).
China and the U.S. have not come to an agreement on the trade deal. There are 15% tariffs on about $160 billion in China export to the U.S. The tariffs are set to kick in on Sunday, December 15. The President of the United States had mentioned that a trade deal was set to be negotiated by the end of this year. There is still a possibility for that.
Mario Cordero, The Executive Director of the Port of Long Beach said, “The effects of these tariffs are being felt by everyone, from American manufacturers and farmers to the consumers who purchase goods moving through our Port complex. As we wait for a resolution to this protracted trade war, the Port will remain competitive by delivering exceptional customer service and moving ahead with capital improvement projects that will allow us to grow well into the future.”
President Bonnie Lowenthal, of The Long Beach Harbor Commission, said, “We appreciate our terminal operators, truckers, unionized dockworkers and all the other men and women who keep our Port humming with activity. We’re hoping to close the year on a positive note that focuses on our continuing efforts to move cargo efficiently and sustainably.”
Please visit www.polb.com/stats for more information.
By Alejandra Salgado