THE Port of Los Angeles, America's busiest for ocean trade with China, processed fewer containers of imported and exported goods in October as the US-China trade war roils the domestic economy and global supply chains
THE Port of Los Angeles, America's busiest for ocean trade with China, processed fewer containers of imported and exported goods in October as the US-China trade war roils the domestic economy and global supply chains. October imports dropped 19 per cent year on year to 392,768.6 TEU . Exports also fell 19 per cent, landing at 140,331.5 TEU.
'With 25 per cent fewer ship calls, 12 consecutive months of declining exports and now decreasing imports, we're beginning to feel the far-reaching effects of the US-China trade war on American exporters and manufacturers,' Port of Los Angeles executive director Gene Seroka said.
The data came amid reports that China and the United States have agreed to roll back tariffs on each others' goods as part of the first phase of a trade deal.
'We expect soft volumes in the months ahead and with the holiday season upon us, less cargo means fewer jobs,' said Mr Seroka, who called for a negotiated settlement to the trade standoff between Washington and Beijing.
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