Port of Los Angeles sees sharp cargo slowdown
The port of Los Angeles recorded its lowest monthly throughput in over two years, processing 716,619 teu in May, a 5% drop year-on-year and 19% down from April. Imports fell by 9% to 355,950 teu, while exports dropped 5% to 120,196 teu.
Port director Gene Seroka warned that tariff-related uncertainty could lead to higher prices and reduced product availability during the holiday season. "Unless comprehensive trade agreements are reached soon, consumers and businesses will continue to feel the strain," he said.
Economist Ernie Tedeschi noted that tariffs may reduce purchasing power by USD 2,500 per household annually, disproportionately affecting lower-income families. Despite May’s dip, total volume for the port this year to date remains 4% above 2024 at over 4 million teu. (ah)