SEATTLE — Steep declines in imports and exports through the ports of Seattle and Tacoma last month are raising alarms about the broader regional economy, which is already grappling with weak consumer spending, sluggish employment growth, and ongoing uncertainty.
Steve Balaski, director of business development at the Northwest Seaport Alliance, said May’s cargo volumes reflect a sharp drop in demand following a wave of new U.S. tariffs, particularly on Chinese goods.
Loaded imports in May were down 30% from April and down 21% from May of last year, Balaski confirmed. Exports followed the same trend. He attributed the slowdown largely to an executive order signed in April that imposed broad tariffs on nearly all U.S. trading partners, with the steepest penalties affecting Chinese imports…