Latest News

Los Angeles seaport imports in June rebound as tariff concerns loom over US Holiday Season

Fears of increased tariffs led retailers to stock up goods in preparation for the holiday season.

Last month, the Port of Los Angeles received 470 450 20-foot units (TEUs), after the U.S. and China reached a truce on tariffs. This was an increase of almost 10% over a year earlier and contributed to a record volume for the entire month. Port of Los Angeles Director Gene Seroka.

Seroka stated that the June surge "highlights tariff whipsaw effects" caused by U.S. policy. The result for last month was 32% higher than May, when short lived 145% import tariffs on China hammered that trade.

He said that the Chinese manufacturers should have already received orders for holiday cargo.

What's on the way is what you're going get. "It's too late for you to negotiate an order at this time."

U.S. Ocean imports will likely start to drop later this summer due to possible tariff increases and the timing of orders. The National Retail Federation has predicted double-digit percentage drops in U.S. Imports from August to November.

Donald Trump threatened on Saturday to impose a 30 percent tariff on imports coming from Mexico and the European Union starting August 1. This is the latest in an escalation in his trade war.

Bobby Djavaheri, president of Yedi Houseware in Los Angeles, said that the company has already raised its prices by about 10%. It also absorbed the remaining tariff costs.

Air fryers, rice cooks and other kitchen items made in China are supplied to retailers such as TJ Maxx and Ross Dress for Less. It prioritizes products, also known as stock-keeping units (SKUs), that are popular and generate the most profit.

Djavaheri stated that "half the SKUs will not be available in this year" when it comes to Yedi small electronics.

(source: Reuters)